TVIX update: beware reversal potential

Despite recent strength, we have to be aware of the TVIX chart which suggests that the recent action could be a good sized 4th wave.  The main trigger to look for is a break back below that upper rail.  It really looks like we are working on C of 5 of this expanding wedge.  The retracement could be back down to the prior 4th or it could be to a lower low than black 2.  The wave shape will tell us which it will likely be.