VXX - Shorts seems to be running out of steam

Early to say, but VXX is starting to diverge from the MAs...suggesting flag breakdown.

Still time to snap back above 24.5, but the downside risk seems higher now.

Keep your shorts lights until action is clear.

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As expected snapped back above 24.5 breaking the follow through trend. Hard rejection of ES at 200 DMA now gives the control back to the shorts.