AMEX:VXX   IPATH S&P 500 VIX SHORT-TERM FUTURES ETN
5 0 1
VXX             is starting to look impulsive off the recent highs. Wave a of (iv) may well have been all of (iv). A corrective bounce to 19.20/.59 region could be shorted with a stop over 20.25. This would also be a good region to drop longs if you're still holding. I'm not holding long for higher targets at this point...
Will update with targets for wave (v) later, but definitely don't be holding short below 18.40. An expanded flat, while possible, is not a highly probable trade. Certainly not worth risking longs in the face of a potential melt-down in (v) while fighting contango imo.
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