The SP500 is trading below 1800 and currently is testing todayâ€™s lows.
The next stop could be the 20 days SMA which is about 10 points away. If we see such correction it would be about 1.7% from the highs of 1810+.
The VXX is trading higher last 5 days and we expect to see this pattern if we approach the 20 days SMA. We need data, prints and trade spikes in the VXX and VIX to start hedging at these levels.
VXX â€“ Daily