$UVXY target still +$100, different path to get there
We've seen an incredibly large rally in stocks, which has taken UVXY lower than I expected, but as long as we bounce at support here, the idea is still valid.
The support on the chart is retesting the move that we broke out from end of March. There was a lack of balance on the chart as we saw a 130% move over a 5 day period. So we're going back to retest that region.
I think once we retest the region we broke out from, we'll base for a few days and then start the last leg higher. I think this is going to be the biggest move yet and this move will get us to break the lows in SPY. I'm looking for $437-441 to mark the low in the market with an extreme low at $400.
I think VIX will see new highs and UVXY will go to $100+ with the resistance targets on the chart.
Not sure what the catalyst will end up being for this one, but all of the positive news around tariffs seem to be priced in after today.
Most of my UVXY options are stacked from 6/6-6/20 as I think we'll see this move play out by then.
Let's see what happens.
The support on the chart is retesting the move that we broke out from end of March. There was a lack of balance on the chart as we saw a 130% move over a 5 day period. So we're going back to retest that region.
I think once we retest the region we broke out from, we'll base for a few days and then start the last leg higher. I think this is going to be the biggest move yet and this move will get us to break the lows in SPY. I'm looking for $437-441 to mark the low in the market with an extreme low at $400.
I think VIX will see new highs and UVXY will go to $100+ with the resistance targets on the chart.
Not sure what the catalyst will end up being for this one, but all of the positive news around tariffs seem to be priced in after today.
Most of my UVXY options are stacked from 6/6-6/20 as I think we'll see this move play out by then.
Let's see what happens.
Note
Even though we broke through support, we go higher. Doesn't invalidate the idea. Everything I see indicates a big vol move is coming.Note
Got a strong 1D buy signal on the chart today. The last time we had a signal on the 1D, was the sell signal at $50. Should see a move start within the next few days.Trade active
Fully loaded on calls for 6/20, 7/18. Let's see where we end up going.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.