Depends on who's using it for what Gleno. It is just as heavily involved in mvp today as 7 years ago when I started. L
Remember thequeenfool at CS? She said once vix was impossible to use because it can and does change ranges. She was half-right, the entire picture would be: because vix can and does change ranges, fixed number targets are useless, with this in mind try a 20 day lookback and determine relative positiion in range in order to qualify where it is.
You CAN time the market!
But only after you trash the big 3 myths.
Myth 1 - its possible to get every point of every move
...Myth 2 - you'll never have a drawdown
......Myth 3 - you'll never have a loss