VXX looks ready for a move to the upside!
For this analysis we overlay our Proprietary Oscillator over the price chart and we can see a pretty large positive divergence. We are looking for price to run up to possibly the $22 range and have written a pretty extensive article on our site.
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The market is not holding yesterday's lows and VXX now has the $22 price in it's sights. Everyone has brought out the stats historically about a turnaround after a big dump but with the lows being broken an even bigger flush is coming. Either a reversal to the upside in the SPY, DIA, QQQ occurs or we flush.
