I'm sure the perma bull market strategists have all but forgotten about the low VIX readings. They are too busy being optimistic about a "second half recovery" and the "productivity boom" to pay attention to any sentiment readings. It's been between 25 and 19 now for 4 months. If you pull up a 5 year weekly VIX chart with Bollinger Bands, you'll see the bands are starting to tighten (just as they have before other major sell offs in the past few years). If you add RSI and MACD to the chart, you'll see how low they've gotten. The lowest RSI readings in 5 years! Major complacency.