iPath S&P 500 VIX Short-Term Futures ETN (VXX)

[risk on]

Every gap ( up or down) has filled on VXX in the past, so, today's should too, just a matter of when at this point. Really it's a matter of how much angst in the border markets will be amplified before calm returns. Remember VXX is certainly a long term loser in a big big way, over the past 6 years anyways. But I stress, over the past six years. Why? Because the unprecedented , virtually unimpeded, climb since fall of 2009, has destroyed volatility right along with said climb. BUT, that climb has pushed every exchange to well overbought territory, and as we all know the worry free days must come to an end. Volatility, as a factor , must return as well. When? Who knows? But I do know this, the chart pattern on DIA and SPY for the past two years is eerily similar to 2006 - 2008.