Well, that vol sell off was fun, its probably over, have fun if you dumped VIX futures today.
One common understanding about vol and the S&P 500 is that tops in vol often lead bottoms in SPX. Well if today was a top in vol, which it might not have been, then we still probably have not seen the bottom in SPX. Take a look at this chart of VVIX returns and SPX returns. What I want you to notice is how well the two track eachother with VVIX being a slight leading indicator. If we saw the top in VVIX today (possible) then there may be a day or two of SPX drop in front of us more.
VVIX had an incredibly big up day, even if the SPX really didnt. The last time the VVIX moved like this...take a look: