VXX Follow Up

Yesterday I posted the VXX long trade idea based on some positive 3C divergences later after examining the chart more closely, I said I thought this was more then just an intraday trade. Then last night I said this about VXX,

"I think VXX pulls back earlier tomorrow, but I think it will present an opportunity, options would probably be my choice on VXX, although I haven't looked at the chain."


Here's VXX today...

 Today's daily chart

Today's 1 min hart, we saw the early pullback below yesterday's close and up and away from there.


Right now it looks like it's going to consolidate a bit as RSI has gone negative.

I don't think it looks like much more then a consolidation, but until I can check the underlying trade, I would trail a stop behind this intraday. I do think there will be more opportunities in VXX in case you get stopped out as the longer term 3C charts linked in the posts above, look healthy.