Below is a Weekly chart of VXX along with Fibonacci retracement levels:
The LONG signal was generated the first week in May and is still operative. Note how the character of the market has changed, from a declining, subdued trend to a rising, volatile, broad-ranging trend. Note also how the initial surge (Wave 1) has now been retraced between 38-50%. It's possible for the retracement to reach 62% before ending, but VXX is in its Fibonacci window of reversal now, so any dramatic rise in volatility will likely resolve into a Wave 3 advance with inverse implications for the stock market.