VIXY - Up Gaps to Fill & Pattern End Suggest Upcoming Turmoil
Note - When dealing with VIXY and other VIX derivatives, keep in mind these are "volatility" plays. This means using risk management, stop losses, and price alerts IS A MUST.
VIXY and VIX related derivatives look to have some excellent short-term and long-term potential. This also confirms for me the SPY downturn coming.
In the past, VIXY has closed all gaps with the exception of 2 recent price gaps and 4 other gaps going back to June 2016.
As the gaps are not too far back in time, the price is irrelevant to whether the gaps can be filled in my opinion.
If we are close enough, meaning a few years (maybe even a decade) things can flip and gaps get filled.
Short Term
Repeating banana pattern is ending in days. By 12/1 we should see some kind of issue or spike in VIXY.
Two recent gaps up are easy to fill, up to $20.
We should hit the pink top resistance, and go back down (allowing for entry to short, but puts, or call credit spread possibly).
Long Term
Pink main wedge is coming to an end around April 2020. Bond yield curve inversion happened August 2019. Around 8 months. Coincidence?
We have EPIC gaps to fill above. I could be wrong, but this could also fulfill 10X potential. Stock is $14 with gaps to fill up to $200.
At this level, this is extremely cheap insurance if market goes down.
If I were to buy the stock, I would set stop loss limits or be willing to dollar-cost-average into the stock from here, and willing to hold for 1 year or more.
If I were to use options, I would play the reversal points of bottom (now) and top ( in a few weeks or less).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
VIXY and VIX related derivatives look to have some excellent short-term and long-term potential. This also confirms for me the SPY downturn coming.
In the past, VIXY has closed all gaps with the exception of 2 recent price gaps and 4 other gaps going back to June 2016.
As the gaps are not too far back in time, the price is irrelevant to whether the gaps can be filled in my opinion.
If we are close enough, meaning a few years (maybe even a decade) things can flip and gaps get filled.
Short Term
Repeating banana pattern is ending in days. By 12/1 we should see some kind of issue or spike in VIXY.
Two recent gaps up are easy to fill, up to $20.
We should hit the pink top resistance, and go back down (allowing for entry to short, but puts, or call credit spread possibly).
Long Term
Pink main wedge is coming to an end around April 2020. Bond yield curve inversion happened August 2019. Around 8 months. Coincidence?
We have EPIC gaps to fill above. I could be wrong, but this could also fulfill 10X potential. Stock is $14 with gaps to fill up to $200.
At this level, this is extremely cheap insurance if market goes down.
If I were to buy the stock, I would set stop loss limits or be willing to dollar-cost-average into the stock from here, and willing to hold for 1 year or more.
If I were to use options, I would play the reversal points of bottom (now) and top ( in a few weeks or less).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
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