The symmetrical pattern continues to play out for UVXY. The combination of forks with exact geometry contained price action nicely. Sideways consolidation completed with a failure at multiple resistances. Decline to #2 is anticipated to be underway. It could take several weeks time to fully complete with bounces along the way down.
VIX did not spike last week, and that was an important clue to confirm the surprise rally for SPX.
UVXY symmetry suggests to be prepared for a wild ride in December markets! Once UVXY reaches #4 in the symmetry, then larger cycles come into the picture as will be explained...
"A comparison is being made between the white circles, and the symmetry suggests there is some downside coming for UVXY to #2."