iPath Series B S&P 500 VIX Short-Term Futures ETNArca
Description
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Throughout this short term reaction bounce yesterday and today, volatility indexes have stayed relatively strong. VXX had a deep gap down on Tuesday but started to trend higher with the market indexes. Today VXX closed green with market indexes. As the short term trend on the market indexes seems to be terminated, I believe as markets start to retest lows, we could see VXX retest highs in the near future.
Long @ 53.01 Stop loss @ 47.25 Target @ 70-75 but start scaling out at 60
Comment
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Updated look on VXX. Looks good above 51. Stop loss at low of this current consolidation. I would wait till Monday for confirmation.
I had VXX long but the overnights and extended hours KILLED my trade and today it is still down. I closed it for a loss. There is still a buy signal so who knows.
Trader_Kaji
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@mthompson45, Agreed! The timing might be off but the trade idea is still valid; I'm keeping this one on watch.
tkrushing
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Primed for a breakout soon, likely towards the topside