UVXY 29C 7/10
Playing UVXY through EOW. Bounced off 200MA line last week, continues to rise on Monday open. VIX futures in contango, with roll on the 20th. Fed balance sheet shows QE is slowing, which will lead to a decline in the SP500 and increase in VIX. May roll contract to 7/17 (monthly exp) if the trend continues.
Recent market correction from .00001850 shows support for new bull trend starting at 1950. Volume will gradually increase with total market cap. POT remains bullish in long term.
Bull Trend continues today, 1 day candles shows gradual decline to 7500 before next breakout. Volume confirmation shows slight oversold status which confirms short term bearish but overall bullish trend.
