VIX - don't confuse direction with pace

The crowd usually tends to confuse direction with pace, but not this time. With VIX around 33 a lot of stress is already being priced in. Don't forget market can move lower without VIX moving with it, although the gap between VIX 1st month futs (inverted) vs SPX is getting very wide here. VIX is stressed, but isn't pricing in much more stress, despite SPX having moved lower. Who do you trust here?