Wednesday, July 8, 2015

Market Update and VXX/UVXY Follow Up

The reason I can't condone a trade in the SPY, IWM, QQQ, etc beyond the minimal risk we have open in IWM calls, are these charts...
 SPY 1 min positive divergence, but there aren't many/any confirming charts, at least not yet.

 SPY 2 min is in line, not positive.

 ES/SPX futures as mentioned are leading positive 1 min

The next timeframe 3 min is perfectly in line, not leading.

UVXY looks a bit different.
 UVXY 1 min leading negative

 2 min leading negative

 VXX 5 min negative

10min with the stronger long term positive divergence and a more immediate negative divergence.

15 min UVXY negative divegrence

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