as long as we respect the highs another top is in (uvxy)

short term vix futures have put in a multiday high and many broader market sectors are breeching their intraday lows at the same time
this could have a longer term effect, but i think the short term movement in vix will trend back toward 11.89 uvxy
if we build a base of support above 12 and move higher we could be in for more like 12.30, but keep it on the pivot and it should be fine

Trade closed: target reached:

long target hit

Comment:

vix is severely overbought, and its not surprising to see a big red day after a day like this
im top fishing this move

Comment:

daily is bearish imo

Trade closed: target reached:

if you shorted last night you will want to coveer it here

Comment:

if we come up again forming a base of support above 13 and move higher it could be a long flip
if we see a higher low in spx and break day high could be a reshort on a break of 12.89

Comment:

12.84 and 13.89 form an expanding range

Comment:

getting into reshort territory if we set a lower high beneath 12.97 and continue lower
target 12.54

Trade closed: target reached:

if you shorted the last pop its probably good to cover
i dont know what will happen over the weekend so take profit wherever possible