This is a revised count for XIV and, whatever it's merits or faults, might suggest that volatility is on the horizon once this 5 wave impulse ends. I have included both the log and arithmetic chart so as to show the different possibilities of the channels.
The Vix and the XIV have proved useful hedges so far this week. Both have more to go, suggesting current weakness is not over yet, largely due to Facebook. The rinse out has another leg down in it over the next 48 hours. Be careful. Rallies are not trustworthy until FB stabilises.
Hope you're not going to need this next week. But I suspect you will judging by the look of too many major charts right now. It may never happen.But this is good way to cover yor back in a panic situation if it arises, and major charts break down as per all other comments this weekend.