XIV has been following the dominant pink fork since August. Price reached the double fork resistance in early November and plunged.
XIV is nearing the lower pink fork support. Price closed above the orange fork support on Friday, and price behavior at the orange support will be interesting.
The SPX Cycle is still negative, but points to a low next week. Most of the downside has likely already occurred. An explosive move up is anticipated to commence from a low next week to the next high due around December 8th.