BATS:VXX   iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX is setting up for a bounce after completing a motive wave down.

Initial target is a 0.618 retracement to around 24-25. It will be explosive and begin after the FOMC 9/20 around 2pm.

After this initial pop I’m expecting consolidation or slight pullback before the bigger move up in October/November 2023

This will correspond with S&P beginning C wave to 4200s in coming weeks (the VXX initial pop will coincide with that), followed by a bigger down move in S&P to sub 4000 in October/November 2023 (this is when VXX will see bigger move… I’ll send update when that time comes)

Not financial advice but here is the play:

VXX Oct 6 21.50 calls and Oct 13 23 calls to give it an extra week. Sell half of position at 25, then set stoploss if VXX drops back below 24. If things get crazy it can extend above 25 to 28-30 range before pulling back so keeps some calls for that possibility.

Good luck.

- Vicky

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