UVXY Signals

I believe I said the other day that deciding where exactly to look at opening a position in UVXY or VXX (especially if they are not options positions and you don't have to worry about time decay), is almost like haggling over pennies.

Since these are short term futures ETFs, the longer term charts in my experience don't tend to represent longer term trends the same way they might in say a market average, but are more an expression of strength.

In that case, I'm really impressed with the strength I'm seeing in UVXY, I think if I were to be looking at opening an equity long rather than an options position, I'd probably not be too worried about getting the very best intraday entry, I think I'd be more worried about missing the trade.

Take a look at these longer term charts...

 The 15 min chart is breaking out to a new high.

 So is the 30 min chart

 3C represents the buying pressure in the stock at various price levels, compare the pressure right now at point B compared to point A and look at the difference in price between the 2 points, this is a stronger than it looks, leading positive divergence.

Look at where the 60 min chart is as price is near the lows on this chart as compared to when price was at the highs, a huge leading positive divergence.