Long
[TVIX x VIX] Upside Down-Channel Breakout Continues... Short SPX
Both markets holding right at the primary pre-crash support. Seems it's getting harder and harder for people to short below this level.
Even TVIX dropped to $108 and popped right back up to $120 no problem. Very sticky support.
Still waiting for the pop.
Every day further we get past the down-channel, without falling back below means the odds of a market crash are increasing. If it falls back below, then we must be patient.
Lookout for an uptrend heading back to $150. Maybe have some downside ahead still but very unlikely it'll go lower than $90 before the next crash.
My stop loss is -50% on this trade and I don't anticipate that getting triggered especially with a promising breakout already.
Even TVIX dropped to $108 and popped right back up to $120 no problem. Very sticky support.
Still waiting for the pop.
Every day further we get past the down-channel, without falling back below means the odds of a market crash are increasing. If it falls back below, then we must be patient.
Lookout for an uptrend heading back to $150. Maybe have some downside ahead still but very unlikely it'll go lower than $90 before the next crash.
My stop loss is -50% on this trade and I don't anticipate that getting triggered especially with a promising breakout already.
Data analyst with a passion for best fit lines B)
Related publications
Disclaimer
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.