There is an interesting article this morning at MarketWatch.com concerning the absence of a bottom signal from the difference between spot and future VIX prices Still no stock-market bottom signal from VIX volatility gauge, market watchers say - MarketWatch . I look at something similar every day, Spot VIX - 3 Month Future VIX, ($VIX-$VXV at stockcharts.com) which is also not signalling an important bottom yet. Soon maybe, but so far no cigar.
Regards,
Douglas