iPath Series B S&P 500 VIX Short-Term Futures ETNArca
Description
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VXX tried to push up for the 4th time on March 4th and put in a climax buy bar. Price broke below that climax buy bar yesterday and now price is set to head lower. Looks like it might go and try to test the low of January and February of last year around 13.75.
This is good news for the indices as prices are more likely to head higher. Also, just read that a Deutsche Bank survey said that 25-34 year olds will be spending HALF of their new stimulus checks on stocks. Other age groups said they would allocate 35-45% of their check on stocks.
Looks like we're going higher at the moment. New bars on the chart can change that probability so we'll see.