weekly vix headed to oversold test of support (UVXY)

this thing has had a killer of a bear week. we saw the signs early last week, and now at the close of this one its pretty obvious that if the .382 of weekly retracement spx holds we are in breakout mode in broader markets. uvxy could bounce in a big way, but the action seems bearish at the time being. the green path is if we tighten in range holding that uptrending support in the early part of next week. the red path is if we breakout in a big way and melt up in the s&p. the week may gap up for vix, in which case im aiming for a sell off in uvxy followed by bounce. if we gap down in vix however im looking for that to get bought up followed by steep decline in the later part of next week. either, or case im aiming for the horizontals on this chart. right now im aiming for the bear over the weekend scenario, and im looking for that mid week bump or gap up in vix while the index is oversold.