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The MACD Historgram of the VIX measures whether market volatility is increasing or decreasing. Typically, volatility decreases as the market rises and increases as the market declines. If the historgram is positive, the volatility is decreasing and the market should be rising. If the histogram is negative, volatility is increasing and the market should be declining.

The VIX is a measure of volatility of the S&P options. Typically, levels below 11 have marked market tops. When the 3 Day moving average of the 14 day RSI rises above 65, it's also a sign of a potential bottom. When the 3 day moving average of the 14 day RSI falls to around 35, it's the sign of a potential top.