It's hard to tell if there's some tax selling here or what with volume so low. I feel the FAZ/SPXU longs today were timed pretty well, but intraday VXX I see a few things that makes me think they'll try to ramp the close or at least try to protect it from a red close.
A lot of charts are now looking really bad, especially in Industry groups such as Tech and Financials so I'm glad to see that.
However there is a clear intraday 1 min negative in VXX and VIX futures, this hasn't changed the 5 min which are stronger than when I posted them early, a nice clean leading positive divergence in VIX futures so the last hour of the year looks like if they get anything positive, it's just by gaming the system, but there's definitive demand for protection in to the new year, perhaps they fear for when volume picks back up and managers can unwind window dressing?
5 years ago
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