VelocityShares Daily 2x VIX ST ETN (TVIX)

[Citrati]

Keep a close watch, that SPY bearish engulfing candle after all those indecision candles may be very meaningful going forward. PINS $12.7billion IPO is tomorrow and the big money folks may keep things relatively solid for the day or most of it while it opens and looks supported as they try to work their magic profits. So best guess is market will not be too reactive to that red candle until they stop propping the market for the IPO.
Also keep in mind that HYG started rolling over 2 days ago and with it at highs and way OB is another predictor of some down market.
Too many predictors lining up with SPY having many topping indicators. I am now biased to the down market and up TVIX side. I need to be careful not to blind myself to seeing self fulfilling actions, but be open to the changing scenario. I will be watching closely for a confirmed TVIX buy signal.
Do your own dd and draw your own conclusions, this is just one opinion and is not totally confirmed.
This market has been artificially propped up for a long time and it may not give up easily.
Just thought it reasonable to express these thoughts as I have been quite vocal here.
Next two days should be telling, IMO. One should also be mindful of normal algo bounce points at key ma's, supports etc.

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