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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Hawkmoon who wrote (16895)3/27/2015 9:14:19 AM
From: The Ox2 Recommendations

Recommended By
Davy Crockett
Hawkmoon

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VXX ran smack into resistance at $27.25 and is now back into "no man's land" around $26. Yesterday's high also ran right into one of the intermediate downtrend lines on my chart. So far, this could be the start of a rally in VXX or simply a deadcat bounce off the recent low.

A break in either direction would be very encouraging for either the new trend or the old one. Is it too early for "sell in May and go away"? If it is, we may have one more low in VXX first.....

SPY hit very strong support overnight yesterday at $203.84. There's a good chance we get back down there and have a "real" test of this support. IF this is the case, being long VXX up to that point would be a very good idea!
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