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
I've been waiting for UVXY to test the lower boundary to short SPX and we have it today!
ReplyDeletewhat about gap below im wondering if ewe close that
ReplyDeleteLater, the gap will close quite likely, but it is probably too early.
DeleteBought SPXU $29.30.
ReplyDeleteWhats your target price spxu
Delete$32.
DeleteI'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.
ReplyDeleteSPX testing the pink line and it looks to be failing. So we have a nice short setup for SPX.
ReplyDeleteSPX around 2,810 next.
ReplyDeletetime frame?
DeleteThis week.
DeleteSC - are we still looking for 2,810 soon?
Deletestill expecting 2810 by tomorrow?
DeleteSPX slammed off the open, rate cut hopes and dreams shattered...
ReplyDeleteDetailed charts coming tomorrow. You don't want to miss this!
ReplyDeleteYou’ve peaked my interest!
ReplyDeleteI dont see smackdown this week
ReplyDeleteSC do you still see spx going down to 2810?
ReplyDeleteSPX dropped for a few days, tested the 50dma yesterday. Small bounce today. The weekly still looks weak.
ReplyDeleteYes, the selloff looks likely. SPX can drop for 1 or 2 weeks next.
ReplyDeleteTomorrow may be the last opportunity to short. UVXY didn't quite hit the lower boundary $33.60. Might see that tomorrow.
ReplyDeleteNew chart posted!
ReplyDelete