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

[risk on]

Weird action so far today , because after an epic upper wick like we saw yesterday , VXX will usually immediately retreat , or in rare cases , right before it goes bat chit, there will be a long upper wick ( ostensible fail candle ) , which actually is a precursor to a day or so of playing possum , then ..... well that’s why people are drawn to VXX.

Why do I think the latter case may be so ? Because of a major tech occurrence , the closing over the 9 ema , two days in a row no less.

The 9 ema has been a clear and bright line of ( R) ( resistance ) , and now it’s been cleared.

The way it closes today will be telling , should vxx close over the 9 ema AGAIN today , then I’d say look the F out!

Btw man, digging the avatar ! That’s a hip pic!