Each time the VIX spiked to extreme levels in the past 15 years, a market bottom was developed. I don't think this time is any different.
NDQ has been severely overweight in the recent weeks. Mostly due to the carry trade with NI225 plummeting practically out of nowhere then rebounding instantaneously. I believe the Nasdaq along with other indices are heading toward last month's lows in the coming weeks but will rebound and move upward from there. Recession? No I don't think so.