Replies to post #8028 on ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[blindjohn]

It did exact same thing may 9. Look at hourly chart. Closed strong with hourly candle tapping 9ema. Then tanked the next day.

[Bullsonmonday]

only half right brother, i didn't see the markets gapping up today by any means. that close was dreadful (also didn't call that) but shit is super irrational right now. everything seems to be a bit counter intuitive at the moment.

seems to me that this rally might be a last gasp though... looking at the weekly stochastics and this market should bleed very soon. borderline overbought again and was already overbought when it broke 2100-- 1st sell off always seems to be a head fake. better chance the next move down is a good flush down assuming it can't make a higher high but that looks unlikely.