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Tuesday, June 11, 2019

UVXY - Descending Triangle

UVXY has formed a descending triangle pattern with a test of the lower boundary today.  It may spend some time filling out the triangle next.

Eventually it may bust the triangle with a dip below, but for now it has been finding support within the pattern.

Daily

22 comments:

  1. I've been waiting for UVXY to test the lower boundary to short SPX and we have it today!

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  2. what about gap below im wondering if ewe close that

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    Replies
    1. Later, the gap will close quite likely, but it is probably too early.

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  3. I'm not that interested in UVXY yet simply because the upside within this pattern is not very appealing. It may pop but will be small.

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  4. SPX testing the pink line and it looks to be failing. So we have a nice short setup for SPX.

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  5. SPX slammed off the open, rate cut hopes and dreams shattered...

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  6. Detailed charts coming tomorrow. You don't want to miss this!

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  7. You’ve peaked my interest!

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  8. SC do you still see spx going down to 2810?

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  9. SPX dropped for a few days, tested the 50dma yesterday. Small bounce today. The weekly still looks weak.

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  10. Yes, the selloff looks likely. SPX can drop for 1 or 2 weeks next.

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  11. Tomorrow may be the last opportunity to short. UVXY didn't quite hit the lower boundary $33.60. Might see that tomorrow.

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