Expectation was for VXX to strike towards it's lows which we had considered as being likely "pegged" from 12/9/20. ES futures needs more upside and the cash market has not hit the anticipated highs yet. Will that happen on this leg? No matter- sitting tight watching breadth deteriorate and waiting for targets to connect.
As we continue to state- a weekly negative breadth signal on the NYAD MACD is typically what we see at tops. Not yet there. It is not necessary in every case, but at higher degrees it is almost a required signal.
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The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
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VXX CHART: (ES FUTURES BOTTOM CHART)
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