volatility coiling up for a spike
SVXY has printed an outside down day and this usually marks the top in inverse vix. that means vix is in for a spike as weve seen begin today. normally indices make headway when vix is at the lows, but vix has been popping with indices failing resistance pointing toward a false breakout in broader markets. if we fly higher in UVXY breaking fridays high id imagine were in for mid 13s, and if we close beneath that first lower horizontal i think were in for mid 12s.
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