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iPATH S&P 500 VIX Short-Term Futures ETN Set to Possibly Rebound After Yesterday's Selloff of 2.70%

By Nick Russo

iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $14.05 to a high of $14.27. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $14.29 on volume of 22.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

iPATH S&P 500 VIX Short-Term Futures ETN share prices have moved between a 52-week high of $42.41 and a 52-week low of $9.30 and are now trading 52% above that low price at $14.11 per share. 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 November 21st, 2016 by issuing a Downtrend alert when the shares were trading at $28.22. Since that call, shares of iPATH S&P 500 VIX Short-Term Futures ETN have fallen 48.8%. 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

Ticker(s): VXX