VXX closes below its opening price unable to hold early session gains


iPath S&P 500 VIX Short-Term Futures ETN (VXX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
VXX closes below its opening price unable to hold early session gains
VXX breaks below previous session low
VXX falls to lowest close since February 1st
VXX ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

VXX ended Thursday at 31.33 losing $1.06 (-3.27%). Today's closing price of 31.33 marks the lowest close since February 1st. Trading $0.33 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 31.44, the ETF confirms its breakout through the prior session's low having traded $0.53 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for VXX
Volatility

Thursday's trading range was $0.92 (2.92%), that's below last trading month's daily average range of $1.37. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying might speed up should prices move above the nearby swing high at 32.45 where further buy stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for iPath S&P 500 VIX Short-Term Futures ETN
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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