iPATH S&P 500 VIX Short-Term Futures ETN Set to Possibly Rebound After Yesterday's Selloff of 3.11%
iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $9.78 to a high of $10.12. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $9.88 on volume of 28.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, iPATH S&P 500 VIX Short-Term Futures ETNhas traded in a range of $9.78 to $31.48 and are now at $9.82. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 3.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of iPATH S&P 500 VIX Short-Term Futures ETN on July 7th, 2016 by issuing a Downtrend alert when the shares were trading at $13.23. Since that call, shares of iPATH S&P 500 VIX Short-Term Futures ETN have fallen 23.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders ipath s&p 500 vix short-term futures etn