Top 5 Weekly Trade Ideas #5 - VX Trend Break

VX tried to breakout recently, but just couldn't do it. Looks like a triple top at 18.50 and we also have an uptrend break to the downside. Watching for another move down to the 16-15.80 area, that will be critical.

If it can reclaim the uptrend, upside target is still 18.50 until it breaks. Pretty large range from 18.50 - 15.80 as volatility has picked up so don't want to get baited by a quick move. Will look for confirmation above or below the range, but for now VX is collapsing again.