Tuesday, August 30, 2011

VXX is up marginally

I posted several charts of VXX yesterday and it was one of the reasons I thought we'd see downside today.
 As you can see on this 5 min chart in the white box, the VXX is up marginally today and no threat to our swing trade (short).

 These were the last two charts posted in last nights Daily Wrap . This 1 min chart showed the almost certainty that VXX would be up today.
The 5 min chart was less impressive. Remember the VXX trades inversely to the market.

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