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Watch for iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Pullback After Gaining 5.42% Yesterday

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 $34.20 to a high of $36.08. Yesterday, the shares gained 5.4%, which took the trading range above the 3-day high of $34.38 on volume of 24.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for iPATH S&P 500 VIX Short-Term Futures ETN and will alert subscribers who have VXX in their portfolio or watchlist when shares have changed trend direction.

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 $35.98, which is 287% above that low price. 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

Ticker(s): VXX