A huge short covering rally on Friday may see some erosion on Monday.
Traders Almanac lists the last week of January as the most bullish week of the month and then there's the possible end of month rebalance pop so the odds are skewed for the bulls next week.
Our Ponzo and Long Term resistance chart hit the VIX top at 32 perfectly. And, if we put any credence in historical patterns via the Ponzo then we're due for a steady volatility decline for a few weeks....maybe. We just have to update the returns each week to confirm the present outlook.