Nas 100 Is making higher highs and the RSI is double topping as in the last correction . This is the most stretched we have been from the 200 MA in the whole bull Run and we are apparently entering a santa rally at these stretched levels ? When i look at the vxx chart i see that every index correction VXX was at the end of a descending channel and broke out as we were seeing bullish diversion on VXX and Bearish on indexes which we are seeing now . Right at The end of each channel when all technicals were set and DSI was at high levels for Nasdaq and at Extreme lows for VXX We had negative news released about trade deal and tariffs , coincidence ? It will be interesting to see if we see negative news at the end of this descending channel .
In March 2000 NDX 100 traded to 4816 and fell to 795 at its low in October 2002 losing over 83% of its value. It has almost doubled since then and in the last four years is up over 120% from 3900 to 8700. The charts look similar and ready to roll over. Not sure Trump will allow bad news to happen at this point. I keep believing something else is out there. Something nobody is expecting. When there are no buyers left we will see a fall like we did last year or more. Yes VXX looks ready to spike.