Any down day in a week for the SPX that does not see many is significant for VIX. Not that VIX moves a ton yet but for what it sets up going forward. For VIX traders VIX should go up when SPX drops but this is really not a big move on a percentage basis for SPX. After all, the move was less than .50% for SPX but a full 1 point pop in VIX. Even in low vol the VIX cash moved seem a bit rosey.