Elite Swing Trades

[SwingKing]

UVXY: This is what I post yesterday morning.

Strictly from a technical perspective the bounce I was hoping to see for the best UVXY DID NOT PLAY OUT. So what I'd like to see now is a move from ES down to about 2012 with a bounce to about 2020. The top of that bounce would be the best entry for the next UVXY play IMO. The reason I'd like to wait is because we've went too low already and until I see what I consider an impulse move to the downside I don't think the play makes sense. Sooner of later we're gonna get a clear signal but as you've pointed out we've got Janet on the schedule later today and this move lower could just be posturing. So at the moment it's 2012 with a bounce to 2020-2022 that'll be me to get a starter.

1st we were looking for a bounce before /ES broke 2022 to the downside which didn't play out. 2nd we started looking for a dip/bounce combo for a possible entry into UVXY which didn't play out either. So basically we didn't get what we were looking for to make the UVXY entry. It doesn't mean we're not going to play UVXY, it just means that yesterday we didn't get a clear signal for an entry IMO. I'll be updating my outlook for /ES and UVXY this morning.