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Watch for iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Rebound After Falling 9.48% Yesterday

By David Diaz

iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $15.51 to a high of $16.06. Yesterday, the shares fell 9.5%, which took the trading range below the 3-day low of $16.83 on volume of 47.7 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 39.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, iPATH S&P 500 VIX Short-Term Futures ETN share prices have been bracketed by a low of $9.30 and a high of $42.41 and are now at $15.57, 67% 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