VIX still is about 40 despite the big rally. I could be wrong, but I don't think any of the major bear rallies these last few years has peaked until VIX fell considerably below current readings. The market still has a lot of upside based on this indicator.
“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi