XIV is flirting with the orange target identified in September analysis. As hypothesized in September, once the red neckline was broken, price melted up.
The orange line should act as resistance short term. XIV could still see higher over the next month, but is stretching towards an important high. February 22nd may be the most important turn date.
September 14th, 2016:
"XIV has been flirting with a breakout of a large inverse head and shoulders pattern. Very bullish situation with the red neckline sloped upwards, and forks pointing much higher."