Kumowizard
Long

One swallow doesn't make a summer...

AMEX:VXX   IPATH S&P 500 VIX SHORT TERM FUTURES TM ETN
88 0 3
Nor does one spike mean an immediate reversal in a trend. But it means beginning of something!

- For example on the weekly chart last friday volatility spike means Heikin-Ashi candle body shrink = further loss of bearish momentum
- Daily builds bullish divergences further.
- Price tested Kijun once. Kijun is lower: 17,275 is the key level to watch. A break and close above Kijun can accelerate buying ( volatility spike) upto 20+
- ATR is still very low

I doubt we'l see a lower low. I think next test of daily Kijun will be succesful, and we'll see VXX             going higher.

I still hold my 0,5 unit long.
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