dual forecast for vix (uvxy)
the last few times vix has done this on the daily as spx sold off the week high was suddenly taken out, bullish divergence in rsi showed for uvxy as it beat the 1 of trend based fib extend, the vwma tucked under the price and began to rise as volume increased until the price hit the 2.618
right now the 2.618 is around $18.94
if we get over the week high right above $14, and immediately we see money dumping into vix as multiple sectors pull back at once we are almost certainly in for over $15, perhaps over $18.
if at any point we cant hold $12, and the weekly picture is showing healthy rotation finding higher lows in multiple sectors, were in for mid $11s, perhaps as low as $9.58
right now the 2.618 is around $18.94
if we get over the week high right above $14, and immediately we see money dumping into vix as multiple sectors pull back at once we are almost certainly in for over $15, perhaps over $18.
if at any point we cant hold $12, and the weekly picture is showing healthy rotation finding higher lows in multiple sectors, were in for mid $11s, perhaps as low as $9.58
Comment:
we are just about at the week high. this thing will take off under the right conditions, and its at that critical level post market now. watch for bullish continuation.
Comment:
as much red as were in we have only corrected 7%. there should be long left in vix.
Trade closed: target reached:
long target reached-- will relong if co ditions prove market bears are still jn the game
