UVXY is an index that seeks to offer exposure to market volatility through publicly traded futures markets and is designed to measure the implied volatility of the S&P 500 for 30 days in the future.Volatility in the last few weeks has been declining,
VIX comes from a drop of around 40% since January, so the main indices recorded all time highs during the week and if we add to that the euphoria unseeded by WSB in sectors such as the cannabis companies, it is logical to expect a correction.The Index during the week lost a key level of 10 for the first time in history which could mean a strong rebound in the short term.
Technical:
13% below your MA50
Below-average RSI levels - oversold
Trade closed: stop reached
19 feb
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.