SVXY a volatility ETF play LONG

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SVXY is the ETF shorting the VIXX ( and UVXY) which pumped hard this past trading

session. It goes up when volatility goes down and vice-vera. VIXX is expected to

drop after the trama in the market starting at 1PM when the Treasuries auctions

were duds with little transactions occurring and the financial data reported in

the late morning. SVXY dropped to its near term lows as the VIXX too off.

SVXY bounced above the long term anchored mean black VWAP line which provides

a logical stop loss at 85.65. The relative trend indicator shows the dip and early

recovery while the RS indicator shows low and high time frame lines bottoming

and reversing with the low blue line above the higher black time frame line.

I see this as a long trade setup targeting the pivot highs in the near left of the

price trend or about 90.5, A similar trade would be to short UVXY in a trend down.

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