With widespread Contango in the VIX Curve and a wide spread on Wednesday's settlement, this appears low probability.
Price is overdue to correct as many short term durations are at the top of their ranges for many indications.
It will be interesting to see the ProShares Ultra VIX Short Term Futures ETF reverse as it has failed another 3X Low breakdown.
VVX making new lows for this Quarter tends towards seeing a relief, the issue is from where.
Friday's... placing positions on a Friday within the Volatility Complex has inherent Risk as the end of the week is used 76% of the time to Crush Volalitliy on Low Participation.
After last night's EPS Horror Show, will it stick?
SOH here as the VX Complex remains under pressure until it does not.