ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[Citrati]

I think they are just toying with us. On a DOW chart that shows closing prices only it removes some of the noise of candlestick charts. This just doesn't look like a chart that is losing steam yet.
If anyone sees something to the contrary please clue me in.
What Nightrider IMO is basing part of his stance on is that a stock in motion will continue in its course until acted upon by a stronger force. If one draws in the uptrend lines and considers the angle of every moving average price will revert to its mean. The mean is the price in the upper half of the upward angle (above midlines) and testing the top trend line. The drop to 30,000 at end of January was the largest drop since November and the trend didn't break.
Price hasn't even tested the midlines since the last test which failed. Could it all roll over? Of course. Just not enough data to anything more than guess right now.

More data points coming tomorrow and Thursday and Friday.

All IMO only. Not trying to speak for Nightrider or anyone else, just how I tie his thoughts into what is transpiring.