SVXY is in a clear uptrend and trending higher. With SVXY trading near it's trendline, volatility is likely to remain low for now. What this means is that the first leg down in the SPX selloff is nearly complete. Daily
So in my view SPX has commenced a multi-month selloff and expect lower into year end. However, volatility remains low and that is indicating an October bounce.
Under Trump we had a volatile market and under Biden we have a dull market. Not many trades will do well in such an environment. SVXY gains in a boring market. That's the trade.
The trend is your friend
ReplyDeleteBought SVXY $88.50.
ReplyDeleteSo in my view SPX has commenced a multi-month selloff and expect lower into year end. However, volatility remains low and that is indicating an October bounce.
ReplyDeleteSPX dropped near the target area.
ReplyDeleteSCSeptember 11, 2023 at 10:29 AM
"Support looks to be around 4,250."
UVXY went up to test 50 average. Next down 2 weeks to full 14 gap.
ReplyDeleteThe turn may come next week with FTX trial beginning. All so far exactly as per the SPX plan.
ReplyDeleteGovernment shutdown on Sunday
ReplyDeleteImportantly VXX is back to normal functioning. Plan to utilize VXX options when we have a big setup.
ReplyDeleteUnder Trump we had a volatile market and under Biden we have a dull market. Not many trades will do well in such an environment. SVXY gains in a boring market. That's the trade.
ReplyDeleteGovernment shutdown delayed 45 days into November.
ReplyDeleteSPX target hit this week and looks to be confirming the turn up!
ReplyDeleteNext bounce into mid November when the government shuts down.
ReplyDeleteNew chart posted!
ReplyDelete