The next high is due later in November around the time of Thanksgiving. At that time the price will then see down pressure into December 13th with the next China trade tariffs due to hit on December 15th.
10min Chart
UVXY has clearly broken down below long term support...
2 day Chart
This UVXY chart shows graphically what the problem is currently with UVXY and why it drops almost every day.
ReplyDeleteTVIX drops just the same as UV XY so what U mean UV XYI don't understand
DeleteBoth UVXY and TVIX have the same problem. TVIX is worse, the decay is greater.
DeleteExpect imminent reversal, it will be an ugly Thanksgiving.
ReplyDeleteThe patterns on most indexes are almost completed with multiple divergences and awful market breadth.
The meltup materialized for SVXY. Up 7 of 8 days, and during an up week for VIX. Quite impressive!
ReplyDeleteToday, SVXY will open around the upper fork resistance. A several day dip could occur here.
ReplyDeleteSo maybe a spot to take profits. Later in the month expect some upside, but we are already close to this month's target.
Sold SVXY $60.75.
ReplyDeleteBitcoin looks interesting. GBTC $10 or under may be a decent price for pop to $12.
ReplyDeletePROGNOSIS ON UVXY SHORTTERM
ReplyDeleteUVXY might pop a few days but I just don't think it's worth it. It's having a rough time this month with all the decay in the futures curve.
DeleteThanksgiving definitely plan to enter TVIX.
Theres your 61 svxy
ReplyDeleteYes, just hit the orange line.
DeleteTime to load up the shorts, the patterns are now completed.
ReplyDeleteFavorite short position
DeleteBought GBTC $9.90. Target $12.
ReplyDeleteBitcoin chart coming...
ReplyDeletegbtc chart daily looks like dogcrap to me
ReplyDeleteHaha, I'm expecting lower in January. Just short term pop.
DeleteNew chart posted!
ReplyDelete