I’ve had a few inquiries in the trading room regarding price targets for TVIX (2x leveraged short-term VIX futures ETN) so I figured that I’d share that charts, along with my daily chart of the $VIX (spot VIX index) on a front page post for both Silver & Gold members that might be interested.

I’ve also been focused largely on some of the near-term potential bounce targets for SPY & QQQ recently yet, as I’m still very much open to the possibility of more downside in the markets should the current bullish divergences on the 60-minute charts fail to translate into a bounce next week, my daily chart of QQQ with some of the key support levels & potential price targets for a short-side trend trade on QQQ is posted below.

QQQ daily May 31st

QQQ daily May 31st

Essentially, the first key support on QQQ comes in right around where the Q’s are currently trading with the 200-day EMA (exponential moving average) at 174.56 & the 200-day SMA (simple moving average) at 174.31. While I’m still leaning towards a bounce following today’s tag of those key MA’s from above, should those supports fail to at least put a temporary halt to this slide, the next support zone below come in around 171.65-171.15 followed by the 166.50ish support.