Building SPXU

Earlier today I posted that I lied the idea of starting a partial long position in the SPX 3X leveraged Short ETF (SPXU), it can also be used like the SPY (except the opposite 3C signal since it is a short of the SPY/SPX) for confirmation. I'd like to add to SPXU on any moves lower (which is a move higher in the SPY) and more or less average the cost (this is not dollar cost averaging because the phased entry was part of your risk management before you ever owned 1 share).

Here are the charts...

 1 min SPXU leading positive divergence on the pullback as the SPY rallied today.

 2 min leading positive so we have the start of migration of the divergence through multiple timeframes.


 Even the 3 min is leading positive here and by the way, SPXU still looks good here for a partial entry (1/3 of the intended full size).

The highest probabilities are on the longer charts, the 60 min has been in perfect confirmation of the trend up, I was surprised to see a leading positive divergence on the pullback from the highs. Ultimately this is still confirming our thoughts about the bigger trend being down, although we have this new volatility to deal with.