TVIX and UVXY - Friday the 13th Nightmare Continues...
January was a nightmare for the stock market.
Iran’s top General Soleimani was assassinated, 176 people were killed when Iran shot down a passenger plane by mistake, and Kobe Bryant is dead.
Coronavirus has infected 17,205 with a rising death toll of 361 people. 60 million people are quarantined in China. Countries are quickly closing their borders with the Chinese. China is becoming isolated, and Coronavirus continues to infect people exponentially. Fears of a global pandemic went viral.
This is fear, and after fear comes panic. The selling will only end when panic selling occurs.
In January, the VIX futures curve normalized and moved into backwardation going into March, 2020. UVXY/TVIX have the advantage with the curve, underpriced relative to VIX.
Daily
UVXY bottomed out, and has been rising in accordance with the pattern. Price and timing of the turn were accurate.
2 day Chart
Before:
November 14th, 2019 analysis:
2 day Chart
Source: http://cyclicalmarketanalysis.blogspot.com/2020/02/tvix-and-uvxy-friday-13th-nightmare.html
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