claydoctor

VXX as a spox500 inverted H&S play

Long
claydoctor Updated   
AMEX:VXX   iPath Series B S&P 500 VIX Short-Term Futures ETN
5
If there truly is an inverted head and shoulders pattern developing in the spx500, a play could be puts, but I play vxx, which is 3x shorting the spx500 or a long play on its volatiluty, which is usually down. Last couple days, market is sideways but vxx is climbing and money if flowing out of the spx500 while its price is trying to rise? That tells me that corporate stock buy backs is supporting the price of stocks, during earning season to lessen the effects of poor forward guidance. Watching the IWM for the first step down, while the large caps are trying to hold price with corporate money buying their own stocks. Artificial inflation of stock prices. I say again, and again, it should be illegal. And if we have an inverted HS, then its time to form the right shoulder, down, much like we did Nov 4, 2015.
Comment:
got to learn to spell check before posting, that is spx500 in the title.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.