UVXY
No chart, but UVXY is starting to show life on my weeklies with this tiny pop and perhaps even more so due simply to elapsed time.
First indications since end of July that its flatlining and embedded character may be nearing an end.
Daily chart read suggests it gets pounded down again over the course of this week however.
But the door is starting to crack open a bit for end of week or early next.
Still suspecting “sell the news” on Fed nomination to end wave 3 up within the move from Feb 2016.
followed now by IT sell* on SPY at 2569 ish, an hour before the close.
Not much yet from the VOLs.
(Which remain on LT sells in my book)
* contingent on daily and weekly close .. so follow thru needed to lock it in.
Thanks Pedro_deleon, agree with your “topping action” assessment…
Too soon I think.
Care to reconsider? UVXY now up 30% from when I posted.