Monday, October 22, 2012

UVXY - Important Setup

UVXY likely already bottomed.  An attempt was made to break above the midfork today, but it was not quite ready to do so. 

Short term positive cycles are due for SPX, therefore, UVXY is probably going to dip, and put in a higher low before a real breakout.

This time is absolutely most important in terms of large cycles...  After much waiting, big picture charts will be posted this week.  

30min Chart


  1. Soon, I won't be doing any short term trading at all. My focus will shift to the larger cycles which are most important at this time.

    Until further notice, from this point forward, exposure to long market positions is much too risky according to my large cyles due.

    I will not have any exposure to long market positions at any time.

    My positions will be either cash or short, and typically holding positions over considerable time periods.

    Consider this a very serious warning!

  2. SPX should spike up quite sharply next few days due to the short term positive cycle.

    Be careful though, because the larger one is negative. I'm going to outline all of this with my big picture charts soon.

  3. Don't become mesmerized with all the gyrations up and down with the markets lately. The big picture is what is important now.

  4. It is interesting to follow your blog and I appreciate you share your knowledge and experience. I've been doing harmonic pattern but have never heard of the methodology you have been using. Is there a book you could recommend to read as an introduction?
    Thanks in advance and best wishes from London,

    1. Thank you Viktor, much of the analytical techniques I have developed myself over the years. There may be some good books too, but I am not familiar with them. There is an art and science to it for sure.

  5. So this includes gold and silver, Are you saying this is the part where both metals continue with the bear market?

    updated chart with your recent call:

    1. No I believe Gold and Silver will make another run higher later this year. So they will act as a safe haven for a while longer.

      There is a spot in Nov when a long market position is safe imo, but not until then.

  6. **New Updated Chart is up**