Kumowizard
Long

Respect volatility! Positive divergences in a supressed market.

AMEX:VXX   IPATH S&P 500 VIX SHORT TERM FUTURES TM ETN
118 2 4
First of all, you have to realise how low the volatility of volatility is! It is visible from daily ATR. (Can I call this Gamma?)

Weekly:
- We already saw two blow ups in volatility this year, but again Ichimoku of the VXX             ETF is still bearish . Upper key area is/will be 27,50-29,50
- Heikin-Ashi is bearish , but we may see a higher low this week. We have to check it again on friday close. Meanwhile pls             note the positive divergence being built in haDelta!
Price reached key resistance at15,50
- EWO             is bearish , but it has also been building a positive divergence.

Daily:
- Ichimoku is bearish , but Kijun is dropping lower. First reversal indication would come with a close above trendline and Tenkan, confirmation and volatility spike when Kijun is crossed too.
- Heikin-Ashi is noisy. Small doji like candles in a row. haDelta? -> positive divergence, but still hesitating ard             zero line.
- EWO             is bearish , with some positive divergence.
- Key levels for a reversal and for a counter long setup: 16,75 / 18,00 / 21

Conclusion: we still have time before a proper buy signal emerges, but where to start bottom fishing in Volatility if not here, with so many bullish divergencies on the charts?
Buy small, and buy more in case you see a firm Heikin-Ashi reversal signal, with price breaking above bearish supports.

Wasnt there an index of volatility of vix?
Reply
There is of course, but someone requested to do volatility analysis through VXX Fund.
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