VXX /UVXY Update

As for UVXY long positions that have recently been put on, I suspect we see a bit of very near term pullback in them as they have a 7-8% gain.

I don't plan on making any changes and plan on leaving the position open as I want them aligned with the highest probability big picture or in the case of this particular asset, at least the highest probability swing positioning. I don't really worry about any short term movements unless it were an options position, then I'd probably consider taking some action.

 VXX 1 min intraday negative pretty much fits with the positives we've been tracking in the market averages.

 SPY 2 min leading positive.

We're seeing the same thing in VIX futures (1 min intraday leading negative)

The VXX 2 min was in confirmation at the green arrow and is leading negative (confirming the SPY leading positive above).

 UVXY 3 min in a leading negative divergence.

However it's important to keep these charts which are very short term , in perspective. For instance, at the much more powerful 5 min timeframe...

This is VXX with the last positive divergence to the far left leading to the last market decline slicing through the SPX's 150-day moving average and then a relative negative divergence sending VXX lower on the July 10th market bounce (thereabouts) and a new leading positive divergence which is significantly larger than the previous positive divergence, which is partially a reflection of what I believe the next pivot to the downside is going to do- in essence change the entire market psychology with a break of the 200-day convincingly.

I want the UVXY long to be in line with that trend rather than trying to catch every swing in this case. There are times I think it's worth trying to catch the smaller swings, this just isn't one of them.