ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[risk on]

Doji yesterday w gap down, a classic reversal indication. However , were the past 5 days a dealt hand in “ five card draw “, UVXY would be holding an “ Ace high “ , the ace being yesterday’s candle after another abysmal failed set up.

That said , VIX and it’s derivative ETFs usually move when techs look horrible, but there always seems to be some form of a bottom or a reversal type candle/s just prior to.

Fundamentally : This coming up month is about to see a huge legislative pile up w Tax Cuts imperiled. A likely Fed Rate increase is in cue as well. The market’s entitlement mentality to having everything be “ roses “ all the time , may be getting a serious reality check of some sort in the coming weeks.