VXX ends the day on a bearish note closing near the low of the day


iPath S&P 500 VIX Short-Term Futures ETN (VXX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
VXX closes below its opening price unable to hold early session gains
VXX closes lower for the 2nd day in a row
VXX ends the day on a bearish note closing near the low of the day
VXX breaks below previous session low
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, VXX finished Thursday at 34.90 losing $0.91 (-2.54%). Trading $0.48 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 35.57, the ETF confirms its breakout through the prior session's low having traded $0.80 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for VXX
Volatility

Thursday's trading range was $1.36 (3.81%), that's slightly below last trading month's daily average range of $1.80. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 34.51.

Trend

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

Order Flow

Selling might speed up should prices move below the close-by swing low at 34.51 where further sell stops could get activated.

Conclusion

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

Market Conditions for iPath S&P 500 VIX Short-Term Futures ETN
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Intraday Reversal TQ Pro Members Only
Bullish Doji Star TQ Pro Members Only
Doji TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
3 Consecutive Lower Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when iPath S&P 500 VIX Short-Term Futures ETN traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Exchange Traded Funds Top Movers

ETHUSD 477.0528.70 6.40%
BTCUSD 6,712.49348.90 5.48%
NKY 22,697.36100.01 0.44%
NATGAS 2.7670.009 0.33%
EURUSD 1.17110.0025 0.21%
GBPUSD 1.3234-0.0002 -0.02%
USDJPY 112.29-0.07 -0.06%
GOLD 1,241.0-0.8 -0.06%
SPX 2,798.43-2.88 -0.10%
DXY 94.275-0.225 -0.24%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Exchange Traded Funds

SPY 10 day candlestick chart for SPY279.39 -0.20
-0.07%
XLF 10 day candlestick chart for XLF27.45 0.47
1.74%
EEM 10 day candlestick chart for EEM43.61 -0.24
-0.55%
GDX 10 day candlestick chart for GDX21.87 -0.09
-0.41%
VXX 10 day candlestick chart for VXX31.22 -0.23
-0.73%
QQQ 10 day candlestick chart for QQQ179.18 -0.43
-0.24%
UVXY 10 day candlestick chart for UVXY9.51 -0.10
-1.04%
IWM 10 day candlestick chart for IWM166.75 -0.67
-0.40%
USO 10 day candlestick chart for USO13.94 -0.53
-3.66%
IWC 10 day candlestick chart for IWC107.06 -0.51
-0.47%