Using Contango / Backwardation channels to predict UVXY prices
UVXY contango is fairly reliable except when sustained high VIX numbers are posting, The ratio of UVXY to VIX reveals contango / backwardation channels that are predictive to the degree that any trend channel is. This is very helpful as a ratio to forcast UVXY relative to the VIX.
Pictured is the current channel with an elipses and "price" tags at the upcoming April 17 close. Heiken Ashi used to more clearly spot significant contango / backwardation pivots. Note that the underlying for UVXY is VXX futures, so the contango / backwardation well known to VXX gets compounded with UVXY.
Pictured is the current channel with an elipses and "price" tags at the upcoming April 17 close. Heiken Ashi used to more clearly spot significant contango / backwardation pivots. Note that the underlying for UVXY is VXX futures, so the contango / backwardation well known to VXX gets compounded with UVXY.
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