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cerealpatterns

are we bottoming out in vix?

ProShares Trust Ultra VIX Short Term Futures ETF (AMEX:UVXY)  
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AMEX:UVXY   ProShares Trust Ultra VIX Short Term Futures ETF
Trend Analysis Chart Patterns Technical Indicators SPX (S&P 500 Index) VIX CBOE Volatility Index broadermarket index Bullish Patterns reversal
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trendanalysis chartpattern indicator spx vix broadermarket index bullish reversal
its too early to tell the weekly picture, but the daily and 4hr appear to be turning the tide for the broader market in a bearish direction, and that mean uvxy could see high $5s. if we do create a top in spx, and uvxy does begin to climb today i would only at first assume its a temporary pop, but if we truly start unravelling uvxy could see high $6s. count on the market and spx returning to bull as long as were in this weekly inside bar scenario. i am all cash until we pick a direction.
Comment:
pretty high sell volume coming in for uvxy

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