I believe the market is due for a bigger correction in the coming weeks than the ones we saw in September/November
The UVXY chart is showing similar patterns to the previous March crash:
1 - Bullish divergence on the RSI
2 - Both a larger double bottom from before March crash to now, and smaller double bottoms at each area
3 - Rapidly increasing volume which shows there is fear in the market
4 - SPY, DJI, and QQQ all have some sort of rising wedge formation
No Price Targets for now but I will update chart and comments if it does follow through
The UVXY chart is showing similar patterns to the previous March crash:
1 - Bullish divergence on the RSI
2 - Both a larger double bottom from before March crash to now, and smaller double bottoms at each area
3 - Rapidly increasing volume which shows there is fear in the market
4 - SPY, DJI, and QQQ all have some sort of rising wedge formation
No Price Targets for now but I will update chart and comments if it does follow through
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