Major watch point for TVIX right now

Because I was not seeing the breakout action that I was hoping for on TVIX, I started suspecting it was running a triangle on me so I kept ratcheting up my stops and was stopped out today only 4 cents off the high.   You can see below how it bumped up against the top rail not once but twice - ye olde declining double top.  When I saw that I exited stage left. I threw the cash into USLV because it looked more promising short term.  Something dramatic should happen very soon now.  TVIX will either break down or it will gap up and out. I will buy that gap if it occurs and then set stops below the new support line.

If it breaks down yet again under each of the 3 support lines show then much lower prices should be feared.  In that case I will watch it closely to see when 5 waves down have formed and to see if it lines up with a walk away in May event in the markets.  No matter what, when the markets begin to collapse I want to be in TVIX.  It will be the only thing you can trust during that time of turmoil.