A correlation of the VIX and SPX from 2006 to present. Note

the steady decline of VIX prior to the generational low in VIX (#1), and the steady rise in VIX after that. Note the 3 last stock market tops (1,2,3) before the crash. Note the similarities between 2006-2009 to 2017-present. I used to believe very firmly in a stock market MELTUP but am not as sure now.