VXX Charts and Stop

You already saw the VXX/UVXY charts in yesterday's post and that will be more comprehensive.

You also saw the VIX post from yesterday as well with a BB buy signal.

 This is VXX this morning on a 1 min intraday chart, there's some improvement recently, it's at the area I mentioned it yesterday so I'm not too worried about hitting the exact bottom. As with most positions for a pullback trade this is speculative or about half size as it is counter trend to the bigger picture charts that have been building a strong positive divergence since late October, the 16th was the start of that move, but like any good Wall Street trend reversal, there are going to be shakeouts to throw anyone who thinks they are a step ahead of WS out of the game.

 The longer term 15 min chart is what is really impressive about VXX and UVXY, this suggest a move quite a bit higher than anything we saw this morning, it's not only a leading positive in an important timeframe, it's got some size to it as well.

 If you are looking for a stop, the 60 min Trend Channel can work at $29.70, I prefer to allow more room on initial positions and when VXX moves up a bit, I'd prefer to switch to a wider daily channel, however in the timeframe I'd imagine we'd be looking at trading this, the 60 min chart has held just fine.

On a 30 min chart we have the first of the X-over moves on this screen with ll 3 indicators long, the reason I really mention it though is because the 10 and 22 bar (30 min) averages should be the key averages to watch for the time being.