Even after a knee jerk effect like that which seemed to be foreshadowed just before the F_O_M_C policy statement as seen in the Market Update and Initial Trade Plan post which included a VXX chart and intraday turn just before the F_O_M_C, the position is still in the double digit green and is giving better and better signals since the pre-3 p.m. post linked above.
An early intraday positive start to the day for VXX with a leading intraday positive divergence, then the pre-F_O_M_C intraday negative, now a return to a more positive tone.
Remember these are not like the stronger 5, 10, 15 min charts that still look very good for VXX upside, these are intraday steering/timing charts.
As for confirmation...
The 2x leveraged UVXY shows all of the same intraday (1 min) signals with an even more impressive late day positive divergence as the knee jerk F_O_M_C move seems to be losing intraday support which it seems is all it ever had if even that.
And XIV, the inverse of VXX which moves with the market, with it's positive right before the F_O_M_C confirming the negatives posted right before in the post linked above and a confirming negative intraday divergence right now.
I'm not going to add to VXX at this moment. If price lingered in the area for a bit longer and the knee jerk didn't fade immediately, with continuing signals along this trajectory, I'd add at that point.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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