VXX / UVXY

These popped up late last week, I have an open Call in July UVXY $70 calls.

This week is going to be short and that means the algos will be running things. Wednesday we have a half day, Thursday we are closed and do you really think ANYONE on Wall St. is coming to work Friday? No, I'd say Wednesday they'll be at the Hamptons and they won't be back until the next Monday.

In any case, that leaves a lot of possible volatility, however I still expect a quick (in context) move down before a continued move higher and these charts seem to agree.

 VXX 2 min looks ready to go, both Friday and today look like clear accumulation areas, not only from 3C, but the narrow ranges as well. You may watch for the typical head fake below this morning's range as a marker for the start of their move up, it's likely this morning's move lower served the same purpose, but these head fakes (stop runs in this case) occur on EVERY timeframe, from day to day or intraday.

 The 2x leveraged UVXY with the same signal in the same area, Friday and today. (3 min)

And UVXY at 15 min. We really only have 2 or maybe 3 days of positive activity, it's not a large base, unless it decided to add more, but I suspect this is it, which means I don't expect a long move, volatility is a different story, but I don't expect this to be a long lasting move at all, it just doesn't have the base in place for that.