VXX - What's the plan?

Not really sure where the VXX is headed. The S&P staged a small rally today, but the VXX kind of just hung around oscillating up and down. Usually the VXX drops pretty steadily after it spikes, but not this time. If the S&P was staging a rally I would have expected it to drop much faster. I am leaning towards the S&P continuing on down, but I am getting conflicting signals.

What are your thoughts?

הערה:

I tweaked my NASDAQ trading channel and it looks like it rallied right to the resistance on it. That may be an indicator that we could see a good drop tomorrow, and with it a drop in the S&P and a spike in VXX.

הערה:

Wednesday update since this idea seems to be getting a lot of traffic.