Avoid SVIX for nowAs term structure is still flattish, and momentum for compression has already slowed. Best to avoid SVIX until few days after at least
SVIX trade ideas
Was a big dropThis the ETF that shorts VIX. I bought this on Friday. Still a good entry point if it doesn't open with a big gap up on Monday, which I don't it happens. SL at 28, tp 35 or even more.
SVIX | SPY Comparison Expecting one more for both 🔮AMEX:SVIX AMEX:SPY SP:SPX CAPITALCOM:US500 CME_MINI:ES1!
SVIX bear flagging and consolidating in a bear flag. SPY doing the same. Wave 5 next targeting new lows followed by a big bounce.
SXIV chart has formed as one big butterfly pattern! In a real case of harmonics chart art, the SVIX entire trading history since launch has built up into a big butterfly pattern.
Really interesting chart and worth bookmarking so we can see how the pattern plays out.
Common sense considerations here;
Charting derivatives has a lot more variance (If it works at all).
Charting things with limited chart data has a lot more variance (If it works at all).
But what that said, this is quite an incredible chart. The classic harmonic rules here would imply this is about to drop hard (Meaning VIX rockets). If that happened, this would be an iconic example of how cool harmonics (Sometimes) are.
SVXY - Massively Overbought - Low VolumeEveryone thinks shorting VIX is a good idea. Until it's too late. VOLATILITY TO SURGE.
