TVIXF: A Brand New Hope?
Since TVIX has made its all time highs in March its been falling gently down for months with a few nice spikes inbetween. Since then its been less of an opportunity and more of a beware for all bears, the market is STILL going up. I posted a few days ago about the dollar possibly leaping around Sept 11th and low and behold, it lines up roughly with our TVIXF as well. Could this be the end of the wedge? Not sure. We do know that movement could exist around that time and perhaps not a second flash crash, but a strong correction might be in order or maybe just the start of one? The indexes have been overextended for a while and trading has become boring and impossible for retail traders. Overcrowding might exist by that point as the bears that have been short covering for months might finally give up, take off their bear slippers and put on their bull horns just in time for a toss off the cliff.
As far as the bigger picture on the daily, the moving averages still extend down like eagle claws and is pretty much on the bottom line of RSI. On the weekly, its not over bought enough but the wicks on our falling red bodies is getting smaller and smaller. On the monthly our wicks are ever smaller. However this is at the same level this was in NOVEMBER 2019. If this is any indication, green will start appearing in OCTOBER 2020. However it doesnt mean you cant get your front row tickets some where in late September. Volatility might start spiking when the dollar pops up and anything under $49 dollars might be a great deal. You will just have to wait another 3 months to see any results unless you trade and dump each time (which is an option....).
So Bears we are back to stupid as the Market refuses to die...but have heart....the market is near completion. Just stop shorting....relax...and wait a bit longer.
Note: TVIXF is OTC and has more risk then it did before it was decommissioned in July. TVIX 2.0 is STILL not here yet and TVIXF maybe abandoned by traders if TVIX 2.0 shows up in the next few months. You've been warned.
As far as the bigger picture on the daily, the moving averages still extend down like eagle claws and is pretty much on the bottom line of RSI. On the weekly, its not over bought enough but the wicks on our falling red bodies is getting smaller and smaller. On the monthly our wicks are ever smaller. However this is at the same level this was in NOVEMBER 2019. If this is any indication, green will start appearing in OCTOBER 2020. However it doesnt mean you cant get your front row tickets some where in late September. Volatility might start spiking when the dollar pops up and anything under $49 dollars might be a great deal. You will just have to wait another 3 months to see any results unless you trade and dump each time (which is an option....).
So Bears we are back to stupid as the Market refuses to die...but have heart....the market is near completion. Just stop shorting....relax...and wait a bit longer.
Note: TVIXF is OTC and has more risk then it did before it was decommissioned in July. TVIX 2.0 is STILL not here yet and TVIXF maybe abandoned by traders if TVIX 2.0 shows up in the next few months. You've been warned.
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