See, I'm Not a Perma-Bear. Well, Kind of.....

The RVX is taking a C wave shaped bounce right now, probably to the 25-26 range. This indicates to me that there is still a 5th wave down in the RVX to go, indicating at least a sizeable rally, whether the highs will be broken is another question. I have heard 692 being kicked around on other blogs. I also tried to match up the Fib measurement from the post that I made earlier using as a comparison. It was cut off, but potential 5th wave targets would be between 692 and 700 in this scenario. I don't want to think about the 23.6 retracement from the all-time highs at 733 unless I am free to switch into TNA due to a family member's illness.

Here is a repost of the earlier measurement: