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iPATH S&P 500 VIX Short-Term Futures ETN Set to Possibly Rebound After Yesterday's Selloff of 9.83%

By Shiri Gupta

iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $34.07 to a high of $35.03. Yesterday, the shares fell 9.8%, which took the trading range below the 3-day low of $35.12 on volume of 18.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, iPATH S&P 500 VIX Short-Term Futures ETN share prices have been bracketed by a low of $9.30 and a high of $42.41 and are now at $34.28, 269% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 3.5%.

SmarTrend recommended that subscribers consider buying shares of iPATH S&P 500 VIX Short-Term Futures ETN on August 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.54. Since that recommendation, shares of iPATH S&P 500 VIX Short-Term Futures ETN have risen 3.8%. We continue to monitor VXX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ipath s&p 500 vix short-term futures etn

Ticker(s): VXX