$VIX 5EMA, 05/13/2014: Deep in the froth zone

So now what? 5EMA on the VIX now at 12.65, a level that in the past has indicated a market that has become too bullish for its own good. Will this chart work its predictive magic as it has since the beginning of 2013? I don't know but I'd be cautious here and give things a couple of day's to sort themselves out, IMHO.

GL