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VXX: APR 15 2016 20C
Long Term: Bear Market, targeting SPX <666 by 2022
$NYAD was +12.86% and $NYUD was +4.90% today.
Saw this EXCELLENT 3 minute interview from CNBC. You need to watch it!
Price remains above all major moving averages and is in the upper half of the BB. The upper band is curving lower so without a significant move higher it will continue to do so. Blue 20dma is still well above the orange 50 dma.
We rocketed back to 2070 as forecast off the 2043 pivot earlier today.
Price has alsmost retraced to 2071.1 0.764 Fib retrace of W1 lower. Also remember that 2070 pivot! I can’t rule out a few more sideways/positive hours, but if my count is on track tomorrow has to be a red day.
With the up day for the market VIX retraced lower, retesting the yellow downtrend line. Notice how much higher the %BB is today compared to the beginning of the month when VIX was at the same level.