Trade Idea: VXX / UVXY

This is a reiteration, I prefer and have a UVXY trading portfolio position open which I prefer over options at the moment because I think the base is large enough that you don't need the leverage of options and I think you can capture more of the trend with an equity position, UVXY is the 2x leveraged version of VXX (Short term VIX futures). These make for good trading positions, I'd be careful about anything too far beyond that.

Here's a look at both which show good confirmation.

 Intraday it is in line, it seems to just be in a holding pattern (VIX trades opposite the market and the market is in essentially a holding pattern).

However VXX and UVXY both look to have built extensive rounding bases with good 3C positive divergences like this 5 min

 Or this 10 min VXX leading positive divegrence

Or a 15 min leading positive...

Even out to 1 hour. It seems significant protection has been accumulated while retail chases price.

I also prefer an equity position over options (unless we happen to get a good options set up with a deep pullback in to accumulation) as the time decay isn't the issue that it is with options, although I don't think we are too far from a pivot/reversal.

This is one of the trading positions aligned with market divergences, the others are SQQQ (3x short the QQQ) and SPXU (3x short the SPX).