Technical Analysis: UVXY& .SPX
Hello everyone! Today i want to share some technical analysis with you!
1.
$ProShares Ultra VIX Short-Term Futures ETF(UVXY)$ made a choice:
(1) see previous tweet, I marked 10/31 as the last date that UVXY has to made a choice;
(2) it did. UP! This breakout is only the first step of a MAJOR CORRECTION phase.
(3) if you are familiar with EWT, this ongoing slump is same degree of 2022 correction.
2.
Now, as promised, by the end of October, I will revisit the heat-map of SPX 500--to see the final scoreboard for the major stocks. The color is mixed, as opposed to the glaring green from wall to wall in mid-October (see the previous tweet).
3.
Now, $.SPX(.SPX)$ 's monthly candle color turns RED--esp. the long-wick doji at this juncture looks toppy. Careful here: THIS IS MONTHLY CANDLE and a red doji carries more weight and significance.
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