VXX and AMZN Continue to Set New Records

AMZN soared as VXX continued to implode, suggesting that the forces that have been driving the bull market in recent months remain strong. That said, the former, currently trading for around 1025, will run out of room if and when it hits 1083, a Hidden Pivot resistance that has been nearly a year-and-a-half in coming. The VXX, meanwhile, won’t run out of room until it hits zero — an impossibility, of course, but we shouldn’t be surprised if its ultimate bottom lies well beneath the current, record low.