MoneyFlowTrader
Long

Cup & Handle forming on UVXY from buy signal on 8/2015

AMEX:UVXY   PROSHARES ULTRA VIX SHORT-TERM FUTURES ETF
117 2 0
scaling in both tvix             & uvxy             bullish cup & handle forming
Mango_1
7 months ago
Why August ?
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MoneyFlowTrader Mango_1
7 months ago
Mango, if you zoom in on the chart right around 8-03-2015 you would see a bullish divergence. The money flow index (green dotted line) was breached, and confirmed a buy signal (green arrow). The Macd had already had its bullish divergence on 5-25-15 (it turned up) but took almost 2.5 months for the money flow to breach. I should have also pointed out that between May 2015-July 15 (Money Flow Index) was severely over sold. So to answer your question, we are now at/near those same price levels as of last year confirm signal. Basically that Money has not yet left UVXY, notice the two different levels between May 2015 & May 2016, that Money Flow Index has not breached downward yet. Both Macd/money flow index are on the support lines.
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