Positive short term cycles for November suggest that a surge up soon could be surprisingly strong.
While this short term outlook may seem positive, remember overall, in the bigger picture, the process is anticipated to be a broadening top formation that defines a major top.
UVXY thoroughly tested resistance, but it did hold, and the fact that UVXY plunged last week is compelling evidence that SPX is setting up for a sharp rally on a short term basis.
Notice that the turquoise and orange fork geometry match up exactly for UVXY. There is interesting symmetry in place. The symmetry should provide helpful insight into the next short term moves.
A comparison is being made between the white circles, and the symmetry suggests there is some downside coming for UVXY to #2.