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iPATH S&P 500 VIX Short-Term Futures ETN Set to Possibly Rebound After Yesterday's Selloff of 3.26%

By James Quinn

iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $14.47 to a high of $14.89. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $14.97 on volume of 19.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 46.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of iPATH S&P 500 VIX Short-Term Futures ETN have traded between a low of $9.30 and a high of $42.41 and are now at $14.52, which is 56% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.5% while the 200-day MA has remained constant.

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

Ticker(s): VXX