So far the VIX has crashed and we can make the argument that the VIX has gone lower than $12.29. That would make the late May rally another bear market rally. 3 wave zigzag crashes are pretty normal in diagonal waves, and this decline could fall even further. If a newer low becomes true then the May and June pattern cecomes just another wave 3-4-5. The big open gap is now closed, but there will be no rest for the VIX bears as 2 more gaps are now open above present prices. These gaps will get filled, as all gaps have a 90% chance of getting filled.
It may take all of June for these gaps to get filled, and it could be another violent move once the VIX bears realize they are in a VIX bear trap! A VIX “bear trap” means a stock market “bull trap”.