VXX week of 5/19/2017

This week I watched as the VXX traded in a range of 2.16 for the whole week. For the first time in a month VXX traded above and closed above the 50 period simple moving average on Wednesday (5/17) The attempt to fill the gap today was stopped by some short term market volatility, which boosted it above today's low of $14.36. There may be a new base forming and if there is a trend change in this market we should see the inverse relationship between the S&P 500 and VXX take hold. I set a short term target above 17.18/share where I would like to be more precise before unloading shares above 17.10 and possibly even 17.25