Loading ...UVXY CONSOLIDATION…
http://stockcharts.com/h-sc/ui?s=UVXY&p=60&yr=0&mn=2&dy=0&id=p30724919671&listNum=1&a=403242575
SVXY INVERSE VIX…WATCHING BOTH SVXY AND UVXY for direction
http://stockcharts.com/h-sc/ui?s=UVXY&p=15&yr=0&mn=0&dy=10&id=p59340968458&listNum=1&a=422326271
After this week in the PM stocks UVXY looks like a more sensible item to trade. Buy on a clear signal, sell the moment it moves out of its channel and whatever happens, cash out before market close. Although the big plunge in PMs looks good, it might be eclipsed by all this volatility and the UVXY trade. I get the feeling that although the basic principles in trading never really change; technical analysis and all that; market conditions are never exactly the same from one year to the next or routine.
I’ll keep an eye on the Bollinger Bands and the 13/34. I find drawing channels helps too. The one-minute chart is the one I’d use and I won’t stay in UVXY unless I’m watching the screen.
UVXY staying bid despite a market rally of this week’s magnitude off the low suggests another retest of the low. This occurred in 2011 but uvxy was not around. TVIX was. Once the lows were retested the real really began and TVIX collapsed. If UVXY breaks above that triangle the whole market will be scary!