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

[risk on]

Hold on to your lunch, VXX just closed above its 9 ema two days in a row and even managed to close above the mid B.B. Friday ( rare ) .

Now, this doesn’t mean “ jack “ or “ chit “ unless we see confirmation. But even if we don’t see confirmation, VXX HAS formed a solid base on the WEEKLY chart .

It lost the base for one day last week , a slight close below , but THEN Came roaring back , and I? did say there could be a “ deke “ where it looks like the set up has failed and then it does a “ KRAZY IVAN “ . I? was referring to dropping below the base in the daily chart and closing back above within the same day , so that wasn’t exactly true, but I? also said “ history doesn’t repeat , but it does rhyme ~ Sam Clemons “

So, either way VXX set up for a solid move higher IS a going concern at this point on more than one fractal ( daily / weekly ) .

But, none of this “ potential “ means anything without follow through, like most things in life.