ProShares Trust Ultra VIX Short Term Futures ETFArca
Description
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test UVXY offers daily leveraged exposure to short-term VIX futures, designed to capture the volatility of the S&P 500, in a commodity pool wrapper. As a geared product with daily resets, UVXY is designed as a short-term trading tool and not a long-term investment vehicle.
@sparo,Yes according to the VIX I have. Thats very primitive.
sparo
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@TheCryptoChartWhisperer, You're taking the fibs from the last spike but ignoring the macro. I guess if that's how you see it but the vix has not been trending in that direction for well over four years. What your chart suggests is that some event will happen that calms increasingly volatile markets to historic lows. That does not seem likely.
TheCryptoChartWhisperer
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@sparo, Thats an incorrect assessment. Wave (4) was just longer and we are on (5) down to $9.
sparo
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@TheCryptoChartWhisperer, You do realize that VIX at 9 means all-time market highs, right? For emphasis. All. Time. Highs. That makes no sense in the current global and US domestic environment. Charts absent logic are just lines
TheCryptoChartWhisperer
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@sparo, Im not interested in speaking to you about what makes sense fundamentally. Quit wasting my time.
sparo
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@TheCryptoChartWhisperer, You posted this with your time so it has already been wasted. If your thesis is true then you should also be able to take the SPY and draw the same impulse pattern in reverse, as volatility is a loose reflection of market direction. If you can't, then this volatility idea is not supported.
But in truth, I'm not talking to you. I'm talking to the people who might read this post and learn something about volatility and charting timeframes.
Your chart is worthless. Mortgage rates are well over 6%. Food / Energy prices are spiking. Rentals are spiking. There are shortages throughout the country. People are not going back to work due to either the fake pandemic or layoffs. You have no idea what you're talking about. Watch what's coming as we move closer to November. It's going to be EPIC! As for charts.. They're all worthless in this unprecedented time!