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Look for Shares of iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Rebound after Yesterday's 1.71% Sell Off

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 $13.18 to a high of $13.38. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $13.28 on volume of 24.9 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 ETN has traded in a range of $9.30 to $42.41 and is now at $13.22, 42% above that low. The 200-day and 50-day moving averages have moved 0.01% higher and 3.46% lower over the past week, respectively.

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 52.2%. 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