VXX - What's the plan?
Updated
Not really sure where the VXX is headed. The S&P staged a small rally today, but the VXX kind of just hung around oscillating up and down. Usually the VXX drops pretty steadily after it spikes, but not this time. If the S&P was staging a rally I would have expected it to drop much faster. I am leaning towards the S&P continuing on down, but I am getting conflicting signals.
What are your thoughts?
What are your thoughts?
Note
I tweaked my NASDAQ trading channel and it looks like it rallied right to the resistance on it. That may be an indicator that we could see a good drop tomorrow, and with it a drop in the S&P and a spike in VXX.Note
Wednesday update since this idea seems to be getting a lot of traffic.
Related publications
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.