I posted a bullish count of this short volatility etf back in December that presented a bullish view for stocks generally. However, it doesn't seem to have taken off as I thought and to me is looking a tad corrective, so I started looking for some alternative counts. These are two of them, one still offering a bullish progression while the other (surprise, surprise) is very bearish.
I still reckon this is a 4th wave correction with more upside to follow....deeper correction first though.