VIX stands a very good chance of bottoming here.

I finally found out how to chart the VIX (as opposed to options based variations or ETF representations of it) using TDAmeritrade.  The symbol is $XVO.X.  Below is the chart of the latest wave down.  I can count 5 waves down but will concede that it could still have a bit more to go down in black 5.

That blue line running across the bottom is the 6 month support line.  Maybe it will have to kiss that in order to finish out black 5 but maybe too many people are waiting for that to happen.  We should know in just a few minutes which way this is going to go but a mid day reversal would be a positive sign for shorts.