Watching Other Assets

I want to make sure any asset that is entered as a new position (trading or otherwise) has the signals to confirm the trade. One asset I was interested in was XIV long or SVXY which are the inverse of VXX (Short term VIX futures).

However, I'm not seeing the signals that I'd like to see yet, even though VIX futures themselves have given some good signals. You have to remember that VXX is "Short term VIX Futures,", a rolling 2 month contract, not just 1 month and we just had a roll so I want to really make sure.

There are tensions flaring in the Ukraine once again as the government's Monday deadline for pro-Russian fighters to lay down their weapons (mostly in the Donetsk area) where they have captured government buildings and at least 1 airport in Eastern Ukraine, passed with no action from Kiev which led to Maiden protestors calling for the interim president to step down as there seemed to be no beef behind the threats, well that changed today as Ukrainian forces entered the Donetsk area and at 1 airport that was under pro-Russian militia control, at least 4 SU-27 Russian fighters opened fire on the airport under Pro-Russian control, apparently some people were hurt or killed as ambulances were rushed to the scene, but it appears Ukrainian forces have retaken the airport despite the Russian intervention from above.

So VIX futures may be an interesting asset even in a risk on situation as a hedge.

This is what VXX and XIV (the opposite of VXX) looked like as of a few minutes ago.

 The green "X" marks about the time the Russian SU-@&'s were firing on the airbase, VXX intraday just doesn't look as bad as VIX futures intraday.

VIX futures intraday 1 min

The 5 min VXX would have to look worse than this before an XIV position could be considered, but the point is any asset I put out today or soon will have to have the charts to stand on, not just anticipated or normal correlations that most traders would expect.

VXX 60 min is a different trend, you might call it the May/Sell and Go Away trend or the stage 4 lower low, we are not at that trend yet and a bounce in the market will only help this trend so it will almost certainly be a great trade, just not yet.

As for the actual long asset being considered, XIV (similar to SVXY, just on the NASDAQ rather than the NYSE)...

 The 10 min chart has some promise, there are other charts though that need to look the same, that's what I'm missing and I'd rather miss the trade than to take a sub-optimal position.

 For instance, the 1 min chart for XIV has a positive, but not what I'd expect to see, this may change.

at 3 mins we are in line, not what I want to see with a 10 min positive like the chart above.

And the 5 min is not anywhere near a long for me, this doesn't mean the market won't still be acting as expected, it may very well, we just can't assume that because the VIX usually travels opposite the market that it will this time especially being there may be a need to hedge long exposure due to events in the Ukraine.