We are likely to see LABU break down out of the channel arch and hit 80-82 before it starts climbing again. We have some VOL to face during the next few days. Overall I am a cumulating a long position as it drops.
Lets see if it reaches the upper band of the channel arch.
Technical analysis using lines and projections is futile in all the VIX derivate products.... If you want to try and project anything you are looking at an arc, not a line.
Anyway you can see where SVXY is going. Time will tell if I am right. My guess is will be right. :-)
VIX operating in a channel. Natural evens like fukishima don'g have a long term impact to the VIX compared to the Greece and European problems do.
Market cycle is ending in a few days, maximum volatility should follow a few days after.
The Big box denotes change in trading strategies/time frames.