AMEX:VXX IPATH S&P 500 VIX SHORT-TERM FUTURES ETN
I am currently long vol , but only expecting a bounce into wave (iv) price targets. I'll be looking for another short set-up at that time. Closing above 22.39, and especially 23.21 would be a warning to anyone long 'sp500 imo . did not make a new low during red wave ( iii ); instead has positive divergence with a higher low whereas price has a series of lower lows. This condition could suggest the corrective interpretation of the decline (alt A) which projects into 25 -26 region (alt B). It'll likely be an indirect route with whipshaw. Trading 4th waves is difficult - as is trading corrective a-b-c moves. Preserve capital with stops, protect gains. Exiting with profit on a 3-wave move in vol land has no shame imo .