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Monday, June 12, 2017 1:12:51 PM
By MPTrader | June 12, 2017
Even though the major averages might have started a correction, the IPath S&P 500 VIX ST Futures ETN (VXX) certainly has not rocketed in anticipation of such a scenario.
Let's notice on the enclosed chart that the VXX upmove off of Friday's intraday low at 12.85 has not (yet) inflicted major damage to the otherwise still intact and dominant downtrend.
To do so, VXX needs to claw or spike its way above 13.90-14.00, which will trigger higher projections towards a test of its April-June resistance line, now at 15.25.
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• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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