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CheelooTrader

VXX - Shorts seems to be running out of steam

Short
iPath Series B S&P 500 VIX Short-Term Futures ETN (AMEX:VXX)  
CheelooTrader Updated   
AMEX:VXX   iPath Series B S&P 500 VIX Short-Term Futures ETN
Trend Analysis Flag VXX
1
0
trendanalysis flagpattern vxx
Early to say, but VXX is starting to diverge from the MAs...suggesting flag breakdown.

Still time to snap back above 24.5, but the downside risk seems higher now.

Keep your shorts lights until action is clear.
Trade closed: stop reached:
As expected snapped back above 24.5 breaking the follow through trend. Hard rejection of ES at 200 DMA now gives the control back to the shorts.
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