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TVIX - this move up still looks corrective
TVIX has been nicely following my count. I expected it to rally in wave c up and it obeyed.
But in full accordance to my expectation, that a-b-c move up off the low made at 20.60 on 22 May 2019 is nothing else but a dead cat bounce, a temporary countetrend pullback. What I expect is TVIX to top in the red target box located in between 24.70 – 25.40 and then continue to do what it likes to do which is to decline to new all time lows.
That bearish picture in TVIX confirms my expectation for a new rally in stocks to come soon.