EOD: VXX at 33.25 is close enough to the target. This was a new low for VXX while ES cash did not really pierce the high zone so we shall see if a decline commences sometime soon. Weekly breadth kissed the red signal line which is about as close as it has come for 9 weeks so that could be a set up.
1:09pm EST: Could be generating 'micro-targets' now we see those arriving at 33.26 and 32.80 and 32.05. Those are targets generated with very small vectors beginning yesterday. An unusual but not improbable scenario especially when you are in a general higher degree target zone. We will know more in the next few sessions.
12:30pm EST: There is a new slightly lower VXX extension calculation at 33.38 zone so it may i) spend some time there or ii) move lower at the close on it's way down to the next new target.
Several vectors are signaling a modest decline could begin soon and thwart this short-term leg. Not a terminal top yet.
For several weeks now- week-ending has seen a majority of buy-ins so today should be a good test of VXX lows. Having said that- only 3 out of the last 9 consecutive weeks have been positive over the previous one on the NYAD MACD but the overall status of breadth is at an elevated level so anybody's guess on what comes next. VXX low is at a measured position so it needs to hold otherwise, a new target will have to be calculated [market goes higher].
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