VXX bottom watch update

If history is any guide, as the S+P 500 rolls over, people will again start buying put options as insurance against a massive S+P collapse.  This should be reflected in a massive move up by the heavily leveraged VXX ETF.  Today, coincident with the S+P having broken initial support, the VXX looks like it is also finding support and has likely put in a set of inverted owl ears.  In other words, an inclining double bottom.  When this thing moves, it really moves.  Recommended only for gamblers and day traders.  But hey it's all in the name of financial entertainment, right?