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Is the VIX Index volatility short XIV bubble about to BURST?

Is the VIX Index volatility short XIV bubble about to BURST?
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The VIX Index Volatility Short XIV is trending down towards support at 22.64 and 21.28
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Continued chop on the S&P today resulted in loss of value as VIX spiked.
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This trend is expected to continue as we appear to be range bound withouth a break up.
shortVIX CBOE Volatility IndexVolatilityVXSVXXXIV

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