DJP trade ideas
$VXX... Another LookAs the Indices continue to show weakness, I look for VXX to show temporary strength. How much it will show is in question, but we appear to be making a double bottom for a nice pop over next few weeks(POSSIBLY). Listed some potential targets. Broken trendlines are good signs that trend is changing, whether it be for the short term or long term. In this case, I would say short term, but trendlines can be effective. Using them alone is a recipe for disaster. They are good complimentary tools.
VXX vs. IWMWith VXX fast rising against the resistance, RSI is approaching short term overbought zone, meanwhile, IWM is sitting right on a support line that has been formed since Nov. 2013. If this support line can hold for today, I expect a IWM rebound early next week. Otherwise this line may become new resistance.