UVXY - Mount Everest Cycle Approaching Blue Arrow

The Cycle predicted major moves including:

- Rise up from the white arrow to the red arrow Fiscal Cliff top for UVXY.
- Fast drop for UVXY with large gap down from the red arrow Fiscal Cliff.
- The late February spike up for UVXY.
- Decline for UVXY after the February spike.
- Drop below white wedge line and spend time forming blue arrow bottom.

UVXY is nearing the blue arrow major bottom as shown in the Cycle.  The Cycle decline down from the red to the blue arrow is mature.  It is important to emphasize that this is a large scale Cycle. 

All of the major price movement requirements in the Cycle have been met already.

Daily Chart

Look closely at the white wedge line drawn on the Mount Everest Cycle below.  Price fell below the white wedge line prior to the blue arrow bottom.  Then price popped and bounced along forming the blue arrow bottom. 

Price is currently testing several support lines.

60min Chart

$VIX - Short Term Levels

VIX has been trending higher for more than 5 weeks.  This fact continues to be a warning that SPX is in the late stages of a topping process.  Currently VIX is testing the white supports. 

VIX may find support and bounce again soon.  After bouncing it could still test the pink fork line though.  A test of the pink fork would indicate extreme complacency.   

60min Chart

UVXY has been trading in the blue fork.  Interestingly, the turquoise fork accounted for the flash bounce yesterday.

60min Chart

$SPX - Deja Vu Cycle Detailed Peak Update

Further to March 30th analysis, SPX has now confirmed a peak at Point A.  Notice that the overshoot at Point A is exactly as predicted in the detailed Deja Vu Cycle. 

March 30th:

"SPX is thought to be approaching the Cycle peak at point A. The V-dip in late February and the choppy period during March were price behaviour specified by the detailed Cycle. These details are shown on the Deja Vu Cycle below.

Once point A is reached, the Cycle predicts a plunge to the red trendline at point P."

The slide down to the red trendline phase is confirmed to be underway.

2hour Chart

Deja Vu Cycle Peak in close detail. Notice the overshoot at point A!

UVXY tested the pink midfork today, and is set to rise initially into late April.  An initial short term target is as shown.

Major targets will be identified by the UVXY Mount Everest Cycle and further defined with charts.

60min Chart

UVXY - Mount Everest Cycle Wedge

UVXY facinatingly fell below the wedge line as predicted by the Mount Everest Cycle.  In the Cycle, price fell below the wedge to reach the blue arrow bottom.

Short term downside for UVXY is still probable though it can bounce around as it declines to form the blue arrow bottom.

Daily Chart

Look closely at the white wedge lines drawn on the Mount Everest Cycle below.  Price fell below the white wedge line prior to the blue arrow.

 

UVXY - Mount Everest Cycle

The Mount Everest Cycle is a large scale Cycle applicable to large scale movements only in UVXY. 

The Cycle predicted major moves including:

- Rise up from the white arrow to the red arrow Fiscal Cliff top for UVXY.
- Fast drop for UVXY with large gap down from the red arrow Fiscal Cliff.
- The late February spike up for UVXY.
- Decline for UVXY after the February spike.

UVXY is nearing the blue arrow major bottom as shown in the Cycle.  The Cycle decline down from the red to the blue arrow is getting mature, yet short term downside for UVXY remains probable.  It is important to emphasize that this is a large scale Cycle.

Of note, there is an interesting relationship comparing the timing of both the Cycle and UVXY.  Notice that the rise from the white arrow to the red arrow was relatively faster for UVXY compared to the Cycle.  Furthermore, the decline for UVXY from the red arrow to the blue arrow has been relatively slower. 

The Mount Everest Cycle movements are very much in agreement with the Deja Vu Cycle for SPX going forward.  Both large scale Cycles predict the same result.

2hour Chart

The Mount Everest Cycle is shown below:

UVXY is slowly approaching the blue arrow in this large scale Cycle.
 

 

UVXY - Short Term Geometry

The geometry was favorable for a bounce at the yellow and blue forks.  The geometry provides short term levels to watch.  Also, keep in mind the 50 day moving average is in the mid $9's and gradually drifting lower.    

It will be helpful to see further development in the coming days.

60min Chart