Look for Shares of iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Rebound after Yesterday's 1.58% Sell Off
iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $9.32 to a high of $9.45. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $9.39 on volume of 20.2 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 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 28.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, iPATH S&P 500 VIX Short-Term Futures ETNhas traded in a range of $9.32 to $31.48 and are now at $9.38. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 3.5%.
Keywords: rebounders ipath s&p 500 vix short-term futures etn