VXX Update

There's very little movement right now, once in a while underlying trade seems to stagnate, usually lasts a day or so, I'm not sure if that's what's going on or it's just kind of dead right now.

In any case with VXX it looks like some intraday downside is going to be seen, not enough right now any way that I would trade it, but it will be interesting to see if VIX futures finally start to underperform their correlation with the market which they have outperformed more or less since about February 7th. That outperformance is what has held them out of the accumulation range lower, but as mentioned earlier reports from members saying the forward and second month contracts were falling at double digit percentages today was certainly an interesting development considering the market environment, tone and perception.

 Intraday VXX 1 min negative.

3 min intraday negative

5 min positive yesterday and intraday negative on an important timeframe.

 The overall 5 min leading positive.

I'd like to see VXX come down to at least the $41.50 level, this so it can be accumulated, bought and give us a good signal on when a strong move is on deck for the market (down).

This is the daily VIX futures VWAP, you can see it has just been bouncing around within the standard deviation channels, there doesn't seem to be any pattern here, 3C's intraday is the closest thing showing some distribution along the lines of steering current timeframes except for the 5 min, but VXX has been so stubbornly persistently strong vs its correlation, perhaps it needs some heavier steering divergences.