ProShares Trust Ultra VIX Short Term Futures ETFArca
Description
⋅
weve only seen this low in uvxy 3 times, they were all this year, and they all happened with broader markets in a downtrend. all im seeing right now is buys on uvxy, and if the selloff continues with multiple sectors like xlf, xlv, spy, qqq, iwm, and especially soxl hitting new lows of the day at the same time its almost a guarantee that vix pops once again at this level on the daily targeting the upper horizontal (high 13s/low 14s), and if the bounce continues with sector rotation occuring and consolidation forming in major indices this etf is headed for the lower horizontal (high 8s/low 9s).
Comment
⋅
weve hit oversold on the 1 minute and made a new all time low in uvxy is this the beginning of the rwcovery, or is it the start of the next spike in vix?