Would you buy this stock?
Courtesy of Allan
VXX Daily Trend Model 2.0 with EW
VXX Daily Trend Model 4.0 w/EW
Would you buy this stock?
If yes, consider the implications. As VXX rises, the general market falls. Both of these charts are suggesting that VXX is in the early stages of a new uptrend. Conversely, the same analysis suggests that the stock market is in the early stages of a downtrend.
In the first chart, using my default trend settings, there is not much room for the VXX to fall without exiting the uptrend, meaning, the market should start back down from around these levels, or, the fledgling market downtrend is in danger of reversing.
A fascinating, pivotal time in the markets.
Would you by this stock?
Allan’s newly launched newsletter, “Trend Following Trading Model,” goes with his trend-following trading system. Most trades last for weeks to months. Allan’s offering PSW readers a special 25% discount. Click here. For more details, read this introductory article.
