CBOE:VIX   Volatility S&P 500 Index
VIX has been forming quite a lot of gaps lately. This chart suggests remaining risk lower into filling the open gaps still, but the pattern is tightening and looks to come to a resolution at any moment between now and in the next week.
This smaller pattern suggests room for a VIX breakout into the low to high.
The longer-term structures continue building for a much larger move still to come in the future.
It’s all part and parcel of a market that continues to live off.

The main message: New highs or not, volatility , it’s coming. At least for a while.