AMEX:VXX   IPATH S&P 500 VIX SHORT TERM FUTURES TM ETN
124 1 4
As the Indices continue to show weakness, I look for VXX             to show temporary strength. How much it will show is in question, but we appear to be making a double bottom for a nice pop over next few weeks(POSSIBLY). Listed some potential targets. Broken trendlines are good signs that trend is changing, whether it be for the short term or long term. In this case, I would say short term, but trendlines can be effective. Using them alone is a recipe for disaster. They are good complimentary tools.
We want to see 28.74 reclaimed, and even better would be a backtest after it's reclaimed which would be another sign of strength.
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