Historically, a selloff occurs right after dividends are collected. Prime example would be last time. Price gapped up after a good earnings report but investors realized it was over bought and buried it after they made money on dividends.
As well as the bearish head & shoulders
DAL has just dropped 20% in 2016 and is expected to rise as much as 79% in the next year.
It is already going back up. And according to the resistance level drawn, it is very likely to repeat itself as it had in 2015.
Check out the analysts outlook ...
In July 2015 VXX broke out of a curving downtrend for a great return in about a week.
Now this past week it is continuing to replicate the same pattern held in 2015.
My thoughts are that it will drop to $12.80 and then spike to a possible $26.00 if it follows the downtrend drawn.