ProShares Trust Ultra VIX Short Term Futures ETFArca
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We reset a bit, I loaded some more.
Shit gonna get more volatile before we close out this market downtrend.
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Couple false breakouts...
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Look at this journey guys, what a ride to an epic peak B).
Now all the way back down again but still plenty of potential for another spike in the coming days...
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FW's seem to be less steep when it has some power to shoot up higher.
As they get steeper and thinner, they are more likely to dump into the next day.
Interesting!
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Right at our light blue dotted decay trend and slight upchannel trend, this is where it needs to make a move.
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Fckin TView always messin with my damn lines when I switch TFs a lot, pretty annoying but mostly intact...
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Stuck right to the fractal quarter-channel, should be a solid bottom decay trend, max low is mid-channel around 8 but I don't see the path there before HH spike...
I will be watching to see if VIX stays above the box I drew. I have noticed that VIX will stay elevated throughout a correction (see Sept-Oct). If it goes deep in the box then this was just a short lived pull back and the major uptrend will continue.
@ProfitHarvest, Note the fact that VIX has not returned back to the pink line since Feb last year. Is this just one massive Wave B? Breaking seriously into the big box is when the market is finally done with this crap. Until then, a big rally in VIX is yet to come IMO.
Dr_Roboto
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@Dr_Roboto, I just realized that the plot was missing
@ProfitHarvest, maybe found support? The cRSI is really oversold. I think a lot of people expected last week to be the start of the drop and the rally this week has them bailing. I personally think next week will be it.
Dr_Roboto
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@Dr_Roboto, no sooner did I post that chart did the VIX make a hard sell. It will find support at the purple line. I would say it is about time to load up again.