VXX finally getting ready to rumble?

VXX has been very consistent in its following trend lines and over the last week it has dipped below its major support line. The news from the Fed today has clearly started some level of pull back in the markets (DJI has been showing that for a week). Now will this just be a side ways move or something more substantial? The markets has defied all odds so far so it may be good to wait for confirmation, but if you are a risk taker maybe something to consider.

4h

4h close up

2h