Here are the current VDX updates for SPY, XIV and XLU. Unfortunately we've seen this profile of SPY before, not really in the BUY zone, but tempting. Watch out if the VDI+ and - both swing to downslope....that turned out bearish before and is likely to do so again. XIV is, well, XIV and subject to a different set of rules than SPY. XLU is overbought, but not a short candidate.
This is the weekly update from Randy Frederick, someone whom I respect and know personally to be the real deal. His view is basically neutral but things could get worse before they get back to a neutral position for the rest of the year.