• Home
  • US Market Updates
  • Education
    • Beginners Video Course
    • Intermediate Video Course
      • Syllabus of the Course
    • Trading Like A Pro Video Course
    • Video Lesson of the Week
  • Blog
  • Chat Room
  • Pricing
  • FAQ
Menu
  • Home
  • US Market Updates
  • Education
    • Beginners Video Course
    • Intermediate Video Course
      • Syllabus of the Course
    • Trading Like A Pro Video Course
    • Video Lesson of the Week
  • Blog
  • Chat Room
  • Pricing
  • FAQ

TVIX - has enough waves to complete down structure off the December 2018 top

TVIX is VelocityShares Daily 2x VIX Short-Term ETN, an exchange-traded-note (ETN) that tracks an index of futures contracts on the Standard & Poor’s 500 (S&P 500) VIX Short-Term Futures Index, with 200% leverage on the volatility moves.

In my update posted on 14 February 2019 I correctly predicted that the spike in volatility on 14 February 2019 was only a temporary bullish pullback. Let me repeat what I wrote back then:

“As long as that spike stays under the critical resistance of $40.90 we should get the very final move down in micro wave c of v that would complete the whole five wave down structure and may set up a bullish pullback in volatility and a larger corrective move down in the market. The ideal target for the bottom is under $30.00”.

So far TVIX has made the lowest low at 30.20. By the way, TVIX was at $36.40 when I predicted that drop to $30. Now if we look at a micro structure of that final wave (c) of ( v ) we will see a perfectly completed structure. 

We have got the final micro wave c of v = 123.6% of wave a of v (red labels). We still have a pretty tight confluence of fibs at 29.75-29.50-29.40. Can TVIX make one more low and stretch to that target? Sure, it can. But it has arrived into my green target box in a very completed macro and micro structure and every new move lower would make me buying calls on TVIX.

TVIX - 15 min chart updated on 21 February 2019

Start to learn how to predict the next market move today!
Check out my latest updates
Tags
$ES $SPX 66.7% resistance a-b-c- up pullback a-b-c up Bearish reversal Bear Market Rally Bitcoin Bottoming Breakdown breakout Bullish Wedge Crude Oil Daily Double Three DXY ES Expanded Flat Expanding Triangle failed breakout five waves down Green Box Head and Shoulders i down - ii up setup Inverse Head and Shoulders i up - ii down setup Macro micro Month Opening Range NQ one more higher high Red Box RTY Running Flat S&P short setup SPX topping toppying trading setup triangle Triple Three weekend Weekly YM
Read my Blog

  • My Account
  • Login
Hestia | Developed by ThemeIsle