Yesterday I said I expected a little more downside and some lateral time, that was before risk premium jumped on a flurry of Reuters headlines, but one of the reason I knew this is because of the leading divergences in VXX, as of this morning, price has reverted to 3C, confirmation and is no longer leading, this is where information will start to get interesting.
Actual VIX futures.
The 1 min chart now is relative negative, not strong negative, but a starting negative in VIX futures.
VXX 15 min has reverted to 3C
As has VXX 1 min.
From here I want to see if divergences build negative, if they hold in line, I doubt they go much more positive.
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