AMEX:VXX   IPATH S&P 500 VIX SHORT TERM FUTURES TM ETN
Good day folks,

Pretty simple setup, VXX made a double-top. The second one was a head and shoulders that seems to be completed (see my previous chart for more info).
I’m not a big fan of shorting volatility as I feel it brings bad karma lol. Being long the indexes is basically the same for those who also feel the same.

I put 2 targets as we cannot know yet if the neckline of the double-top will hold or not. And it could also rebound for a few days.

Target 1 at neckline or 32.00 (cash and wait);
Target 2 at support or 26.00.

If this pattern works out, the indexes are in for some serious gains.

Have a nice weekend,
Comment: Huge gap this morning that brings us to target 1 being reached!
Comment: Big selloff in the indexes today. I was expecting some selling as they were overbought, but geez that was a serious drop. Anyway, i closed yesterday around 32 as planned, so im safe. There is no sign of reversal yet, and the market are closed tomorrow. It should take a good day for the market to settle. I'm gonna update once i get back in the trade or cancel it due to continued selling. Have a good day,
Order cancelled:
With the Trump-Powell put and the "trade truce" underway, this seems practically guaranteed.
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tipere445 Tchitchikov
@Tchitchikov, yes excellent news for the market.
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