While the market was off today, and VVIX was actually off a touch as well, there is a pattern developing in VVIX that is none too bullish the stock market. Check out a chart of VVIX since it bottomed last week.
Today, at one point the market was down almost a full 1%. With inaugeration, data, and earnings coming up, it appears that the market might finally be ready to take a breather. Unless one looked at volatitliy. Which even on the lows did little to nothing: