Sort of how I feel about the market but in reverse: SPY poked its head up to new highs today & QQQ looks like it wants to do the same. That may or may not happen but I don’t see any sell signal on the stock market right now so with the near-term trend currently bullish, the odds favor more upside in the near-term & then a reversal & decent drop sometime (anywhere from 1 day to a few weeks would be my guess based on the correction that followed all other new highs over the past 2 years).

As such, TVIX is unlikely to rally very far until & unless the stock market corrects. Of course, we could get some sell signals on the stock market any day now, such as those uptrend lines on the 60-min charts although the highest-probability sell signal will be a solid break of the uptrend lines off the Dec low on QQQ & XLK. Once that happens, TVIX should take off.

Love TVIX when everyone hates it.