The CBOE Volatility Index (VIX) has recently shown significant movement, breaking above the 16 mark and reaching as high as 17. Analysts indicate that the VIX's performance is inversely related to the S&P 500 Index (SPY), suggesting that sustained pressure on the market may occur if the VIX continues to rise. Despite the VIX's upward trend, options market volatility remains low, with implied volatility for Monday at just 10. The expected market move into the close is projected at 0.5%. Observers are monitoring a gap resistance level for the VIX, as a rejection at this point could provide some relief for the SPY. However, if the VIX fills the gap towards 20, it could indicate further declines in the SPY.