VIX Moving in Range Bounce. Be Cautious

VIX index move below SMA20 within downtrend channel. Which is good for Stock Market
However, since 18 May until today, VIX is moving in range bound closing between 28.8 and 31 (That's why you can see most stocks are moving side way)

MONITOR
IF VIX breaks above 31, then stock market will RETRACE.

IF VIX breaks and STAY above SMA20 (Above 32), then most likely stock market will enter BEARISH territory.

IF VIX breaks below 28, then stock market will RALLY