Midday Missive…W/VXX Stop adjustment

They tried the Spu’s down and held 2174 which needs to be penetrated on the short term maps for any downside.
Spu’s back above 2180 late day will be the catalyst for another short squeeze.
The board is a sector specific churn with no trade or signal as of yet in the Indices.
Financials & Healthcare in profit taking mode.
NUGT has a potential double top @ 177.25 level.
The mid-week high in the Gold should also be a warning to the Gold bulls
that the rally could quickly fade.
XME..below 28 all the longs will get flushed out
Disney & X were bought at highlighted support.
30 Yr. Bonds stopped just shy of the unemployment high.
Pattern buy stops remain @ 173.23
Translation…Raise the VXX sell stop to 36.45 from 36.25.
This reduces the exposure on the stop to 1%.

If the trade is correct we should not see that level.

This entry was posted in Archive and tagged , , , , , , , . Bookmark the permalink.