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TVIX - does not confirm a top in S&P
Let’s start from 2 hour chart of TVIX to see the whole structure of ongoing decline off Dec 2018 top. Again, we need to get full five waves down off Dec 2018 top.
My count suggests that we have not bottomed yet in wave 3 down. As you can see on the chart below there are two areas with confluence of fibs:
23.60-23.55 and 18.40 – 17.80. Now let’s check a micro chart of TVIX ( 15 min ) (please scroll down).