Have we reached peak fear in the SPX?

Since the 19th of March the volatility index VIX has continued to decline while the S&P500 has not formed a new low since 23rd March.
At the same time, we have a divergence on the #RSI indicator.

We should see the S&P500 bounce back short-term to the 2,800 level (50% fib retracement level) before selling off again.