$VIX - Has the confidence of the market reach its peak?

VIX is the ticker symbol for the Chicago Board Options Exchange Market Volatility Index, a popular measure of the implied volatility of S&P 500 index options. Often referred to as the fear index or the fear gauge, it represents one measure of the market's expectation of stock market volatility over the next 30 day period, and a measure of how fearful the stock market is.

The lowest it goes in recent years is around 15. It reach 16 a few days back. Will it continue lower? If not it may start its climb. As it is inversely proportional to S&P500, if VIX increases, S&P500 index drops.