Interesting article that I found on Yahoo:
"Yes, the VIX will surely not stay around 10 forever, but perhaps we would be better served to look past the worry over what unknown force will imminently bring the market down, and instead focus on the signals from a market that is moving up as economic fundamentals and earnings continue to grow," Morgan Stanley’s Michael Wilson said on Monday.
India's VIX has collapsed too. I feel both India and US are in a similar position now.
Corrections will keep happening from time to time, but other than a nasty unexpected event, I don't see anything than can turn this bull market into a bear market.
Source of VIX Chart: