"Compelling " may be here, holding the recent low two days in a row ( prior to the latest move ) is rather telling , as well , the pattern of an initial up , retrace , then bigger move up, just an observation based on VXX patterns
Maybe one more drop to 34ish ( fill today's gap) then either an immediate move, or a bit of consolidation prior, then major move, but either way move in the near future , IMO.