Since the demise of XIV I have followed this volatility etn more as an indicator than anything else. Sure enough it stopped dead on the 61.8 retracement of it's January decline in late September and has since declined sharply as volatility soared these last few days. To me it could now be shaping up as a near perfect zig zag correction. IF I am correct then I would expect it's price to head lower for a time yet, suggesting that the equity markets could see some sustained volatility. However. on an optimistic note it would also suggest that this bull market might still have legs once this present correction is over (I have also included a more bearish red count that would suggest that 5 waves have already completed meaning an even deeper correction or even a trend change. I am leaning towards the bulls though).