VelocityShares Daily Inverse VIX Short Term ETN (XIV)

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Nice chart post. Definitely setting up for a big move IMHO. I know that the XIV doesn't follow the SPY, but it hasn't broken the trend line just yet.
I originally thought that the SPY was heading to 250-252ish, maybe a 3 drive up move.

I like to look for a bounce around the fib .618-.786 area then I start looking at the 15 minute chart for some higher highs and lower lows or a triangle pattern

IF price does bounce off the fib .786 soon, it could be setting up for a continuation play to the downside. Where it could bounce back up around the fib .786 or a double top and then put in a new low. OR this could be setting up for a H&S pattern as well.

Still no real sign yet of a change in direction on the 15 minute chart. I don't care about catching the bottom, but would rather play the break out and try to avoid the averaging down game.

This is a good example of tech traders trading the short continuation play on the VIX

One more example of the fib .786 continuation play on the VIX earlier this week.


Best of luck everyone. I am hoping for a pullback before we get the bigger spike up. We shall see. I might have missed the boat on this one thinking that the SPY was headed to 250ish before this big run. Took my eye off the prize.
Here's to hoping for one more continuation play off the fib .786 next week.