Upon further review of the charts coupled with the low number of Active Trade Ideas on rsotc.com at this time, I have decided to make the TVIX unofficial trade setup that was posted earlier today and official Active Long Swing Trade with an entry around current levels.
The price targets are T1 at 57.65, T2 at 69.74 & T3 at 79.80 with the potential for an additional target around 120 level, depending on how the charts of the major stock indices develop going forward. The suggested stop is 37.60 and due to the extreme volatility and 2x leverage factor, the suggested beta-adjusted position size for this trade is 0.30-0.40. To reiterate, this should be considered an aggressive trade, especially with 4 of the 5 FAAMG stocks still to report earnings over the next week starting with MSFT & FB after the close today. As such, pass if this type of aggressive, counter-trend trade does not mesh with your trading style, risk tolerance and/or outlook for the stock market.