Year end rally repeating?
Pretty simple setup, VXX made a double-top. The second one was a that seems to be completed (see my previous chart for more info).
I’m not a big fan of shorting 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,