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$UVXY now looking very overdone. Expecting a near term correction. Targeting mid-40s within 1-2 weeks.
Note: Informational analysis, not investment advice.
Holding over night. Do not have to to elaborate in detail
Chart used for my own historical reference. Any input is welcome.
if this can break out over 14.08 this will run and markets looks week
Could be another downtrend retest, could be a breakout. Waiting for confirmation. Locked in gains from earlier move (See attached chart).
First red box in play today.
This is what typically happens around mid-term elections.
....with 20 points up on the SPX, and virtually no change on UVXY, it is probably brewing another bounce..
similar behavior than end of january, a few more days like that would make it an even stronger
and bigger bounce.
The idea is self explanatory, based on the strategy.
Short SPY/SPXL/DIA or short BTC are also synonymous and also work
will update when trade closes (cover)
$UVXY Oversold at Support - Expecting a bounce very near term. Two possible targets on chart.
Note: Information analysis, not investment advice.
This is an example of a Downward Trend Channel, in this example we use a VIX ETF.
...to follow my last week comment,
again, printed a new low this morning with higher RSI... on the Daily
but this time, what makes it special, we have a higher UVXY with a higher SPX ...
like the precrash behavior we had in january for a few days before the big slump... the VIX been heading higher with a SPX heading higher.... for a few days, and then ...
If u look at RSI formation, it is pretty close to call it a divergence, it is for me...
touching same level of oversold territory of the last bump, with a lower price by 60 bps.
Also compatible with SPX reading from my last post of a few minute ago...
There is a small VIX bullish divergence on RSI, while reaching support trend line. Stochastics are about to turn as well.
The divergence is small but if you look at the DJ, it is hitting the resistance line formed by highs on 26 January and 11 June (not shown on this graph). This suggest a DJ reversal which will push up VIX. This is why i put more confidence in ...
$UVXY near 200MA breakout
Will size into this if we break current $14 resistance level. Time to fight the trend.
if this can close above 13.72 this can rub