Of all the targets I’ve touted or tweeted, the one at 25.43 in VXX is potentially the most useful and significant, since it could mark a possible bear-market low in S&P 500 volatility.  Logic strongly suggests that if volatility is about to reverse and move higher, this would be coincident with a fall, possibly steep and prolonged, in the stock market.  I’ve stuck with the target through several sharp rallies, but it has always looked too clear and compelling to doubt. It still looks picture-perfect, and I therefore expect it to work precisely.