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Wednesday, November 15, 2017

UVXY - Short Term Support and Resistance

UVXY gapped up above the blue resistance, and is currently trading within the fairly aggressive turquoise fork.  Price should transition into the orange fork with a more gradual and realistic pathway going forward.

It is unlikely that UVXY has bottomed, but a stronger bid is to be expected short term.    

30min Chart
Posted by at

26 comments:

  1. SCNovember 15, 2017 at 1:06 PM

    Seven up days in a row for UVXY!!

    ReplyDelete
  2. SCNovember 15, 2017 at 2:56 PM

    Dip soon, but UVXY look like it can grind higher for a few weeks.

    ReplyDelete
  3. Be CarefulNovember 16, 2017 at 7:25 AM

    UVXY 14.13 next.

    ReplyDelete
  4. louis lombardiNovember 16, 2017 at 9:24 AM

    bullish looking patterns on hourly chart if the cup and handle breaks above 2585.50 we will see 2609

    ReplyDelete
  5. read786November 16, 2017 at 10:16 AM

    SC, could you be more specific about the turn dates?

    ReplyDelete
  6. Be CarefulNovember 16, 2017 at 11:16 AM

    Tomorrow first close in 2600s. S&P 2557 was a major bottom. Revise: UVXY 13, then under 10 easily..and shortly.

    ReplyDelete
  7. louis lombardiNovember 17, 2017 at 7:59 AM

    bulls and bears dukeing it out

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  8. SCNovember 20, 2017 at 6:03 AM

    The turn dates clustered close together suggests chop. At a high currently with chop. December 10th turn date may be the low.

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  9. SCNovember 20, 2017 at 6:14 AM

    UVXY near orange support. I could see it pop to $17 to test midfork.

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  10. SCNovember 20, 2017 at 6:27 AM

    Panic around December 10th with UVXY spike.

    ReplyDelete
    Replies
    1. louis lombardiNovember 20, 2017 at 6:34 AM

      Are you looking for a spike 217 by December 10th in that area or you looking for a spiketo 17 and then on the 10th I'm much bigger Spike your thoughts

      Delete
    2. SCNovember 20, 2017 at 6:38 AM

      Pop to $17, chop to $15, and spike to $25 for UVXY. Santa may come early for the bears!

      Delete
  11. SCNovember 20, 2017 at 6:45 AM

    VIX looking very strong. Golden cross coming soon.

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  12. louis lombardiNovember 20, 2017 at 6:56 AM

    i will buy more if she hits 14 area to 14.75

    ReplyDelete
  13. louis lombardiNovember 20, 2017 at 8:30 AM

    Bought some uvxy 1469

    ReplyDelete
  14. SCNovember 20, 2017 at 8:52 AM

    I'll wait and see here now. We'll see. If UVXY comes lower that is fine. I would look to add at the pink line. If it does come lower though the target will have to be reduced from $25 to $22. Still a nice profit either way.

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  15. UnknownNovember 20, 2017 at 8:52 AM

    hoping for a fairly major pull back on xiv in the coming 2 weeks to 75 to 85 ...

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  16. louis lombardiNovember 20, 2017 at 8:55 AM

    the chaneell that its in the bottom could be 14 area

    ReplyDelete
  17. SCNovember 20, 2017 at 9:33 AM

    XIV was overbought in October, but hasn't been overbought yet in November. So that is the only thing left. It might see grossly overbought before it turns down.

    We are down to the final details...

    ReplyDelete
  18. SCNovember 20, 2017 at 9:37 AM

    SPX 2560 next.

    ReplyDelete
  19. SCNovember 20, 2017 at 10:15 AM

    New chart posted!

    ReplyDelete
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    ReplyDelete

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