our favorite vix derivative is doing its thing

whenever uvxy pops like this in a downtrend its natural to assume it will return to the bottom. except for a collapse in spx i doubt were going over recent highs in uvxy. probably end up below 4.90 again soon.

Note

we could still close the gap from yesterday, but i would still lean short on this

Note

were right on the cusp of the break:

keep in mind 98% its a bear break, but never discount that 2% chance because it will tripple, quintouple or octouple... targeting gap close as well as $5.01, $4.98, $4.92

cerealpatterns

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cerealpatterns

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