Here is a chart of the XIV, which is the inverse of the VIX.
Stock markets take the long way around to a final destination, always. We can see in the XIV chart, despite countless Europe interventions, Fed speak, and trillions of dollars spent-XIV has managed to simply make a lower high, confirming the overall larger picture, which is a confirmed bear downtrend.
I have marked the change of direction DOJI candle, confirmed by the long reversal candle the following week.
Continue to build positions in VIX trading products such as TVIX; take advantage of what will be a long slow bleed of Americans 401k retirements, and the ensuing panic that is sure to set in.
Disclosure: I am long TVIX.