buff22
Long

TVIX READY FOR BIG MOVE? RETEST HIGHER LIKELY

NASDAQ:TVIX   CREDIT SUISSE AG - VELOCITYSHARES DAILY 2X VIX SHORT TERM ETN
TVIX             has been playing well off of daily S/R outlined in chart, likely pops soon or else 2.75 support could test. My guess is it at least tries for 3.84, and if strong enough, we could extend targets to 4.25 area.

bounce off of 3.00 strong so far
Comment: as the market tested lower early in the morning, TVIX reached highs 5 ticks from my first target of 3.84. it showed weakness into the rest of the day, and is nearly at 3.00 support again. this could be considered a double top for now, and a good excuse for 2.75 test assuming that the market continues to reverse.
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