On the 60 minute chart of VXX price has broken above the downward sloping trend regression channel. This could be a completed counter-trend, a/k/a a Wave 5 Buy Signal: If you are out of VXX on profit taking (+819%) this chart screams get back in, even if just a partial position. If you are still in, well, you know what you are doing. It's the reward side of the risk:reward equation that is so attractive here. Nonetheless, it is an AGGRESSIVE move. I received this from Bob Prechter's group today. Steve Hochberg is a smart guy, worth watching or setting your DVR. I'm guessing he would like this set-up: "Tune in to Fox News today at 4 PM ET as Steve Hochberg talks markets with Neil Cavuto." Finally, TSLA reports after the close. Could go either way, although weight of the evidence is down.
