Chart on VXX - Market Analysis for Jan 11th, 2018

The VXX has been following our Fibonacci Pinball guidelines almost perfectly since the December 1 highs. As long as this holds under 29.24 the pressure remains down as we look to see this move lower into the low 20s to fill out the pattern.

Avi Gilburt is founder of ElliottWaveTrader.net.