I've been watching this one develop, since I already have a partial position in the tracking portfolio, this will raise it to a full size position looking for a swing type move or whatever the market gives. If I were to open a new position right here and now, I'd probably make it a partial position until after the F_O_M_C as that's a wild card and the initial knee jerk reactions can be very volatile and very wrong. In other words, if it weren't for the F_E_D. I'd probably go for a full size new position, but like earnings. the F_O_M_C is a wild card that relieves you of your edge near term, although I think the larger term trends are very clear and very much on the side of this position.
As for the charts, here's VXX (not pictured are confirming charts in UVXY and the inverse XIV). Also recall the odd and unusual VIX futures positive divergences last week that have made it all the way out to a 30-min chart?
VXX 60 min from a negative turning price down to 3C confirmation at the downtrend and a leading positive 60 min divergence (a very strong time frame).
VXX 30 min leading positive after excellent confirmation.
VXX 15 min with excellent downside 3C price/trend confirmation at the green arrow and a leading positive divergence now.
5 min VXX as the price trend turns more lateral indicative of a base.
3 min trend, leading positive.
This shows the PURPOSEFUL VIX smackdown yesterday at the a.m. market lows, there was distribution intraday long before the smack-down,
this was planned.
As for the 30 min actual VIX futures, as mentioned in the past, I rarely get signals on VIX futures beyond a 1 min chart. Last week they went through every timeframe out to 30 mins and have been accruing there since.
/VX - VIX Futures 30 min leading positive 3C divergence.
REMEMBER, VIX/VXX TRADES OPPOSITE THE MARKET!!!
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