Replies to post #18202 on ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[Citrati]

You are likely right. Daily and hourly UVXY have more downside room to accommodate a lower move.

Daily SPY continues to hold above the 100day and is currently right at the top of the strongest market structure resistance/support zone.

[mannken]

SPY/SPX will channel trade imo

similar to IWM, seen in weekly charts

gamma levels to support a channel
https://cms.zerohedge.com/s3/files/inline-images/Screen-Shot-2021-10-12-at-8.00.42-AM-1024x553_0.png?itok=rZEyejOD

unless there is a very significant event to take out the lower gamma wall, I doubt it, Powell will keep markets channel bound while in office

haven't traded Uvxy in a few weeks, U will bleed in a sideways SPY channel