After 5 waves down I expect a vicious vee type B wave correction. It could be larger than shown. Anyone trading TVIX on the way up should expect this and try to sidestep it if they can. It will pad your bottom line to have done so.
Tuesday, November 11, 2014
TVIX inverse (SVXY) update
SVXY has reached the upper rail of a channel drawn parallel to the 1-3 line (that lower green line is parallel to the upper green one. The grey line is where I think SVXY might trade before going into free fall. This chart is clearly being treated as an expanding wedge. It has 3 wave moves going into each rail. That means TVIX is also an expanding wedge as discussed earlier.
After 5 waves down I expect a vicious vee type B wave correction. It could be larger than shown. Anyone trading TVIX on the way up should expect this and try to sidestep it if they can. It will pad your bottom line to have done so.
After 5 waves down I expect a vicious vee type B wave correction. It could be larger than shown. Anyone trading TVIX on the way up should expect this and try to sidestep it if they can. It will pad your bottom line to have done so.
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