A Stock Market Volatility Play Ahead Of Fed's Next Interest Rate Decision: This Fund Offers 1.5X Leverage
Portfolio Pulse from Melanie Schaffer
Convexity Daily 1.5x SPIKES Futures ETF (NYSE:SPXY) was trading about 1.5% lower on Monday, bouncing up slightly from near the $5 level. The ETF tracks the SPIKES Futures Short-Term Index and measures volatility in broad-based equities. The Federal Reserve’s next meeting on July 25 and 26 could increase stock market volatility, potentially sending SPXY higher. The ETF appears to have formed a bullish double-bottom pattern, indicating a potential bounce higher.
July 17, 2023 | 8:52 pm
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SPXY ETF could see a bounce higher due to potential increased market volatility ahead of the Federal Reserve's meeting.
The ETF is currently oversold and has formed a bullish double-bottom pattern, indicating a potential bounce higher. The upcoming Federal Reserve meeting could increase market volatility, which could send the ETF higher.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
UVXY ETF, which tracks the movement of the S&P 500 VIX Short-Term Futures Index, could also be affected by potential increased market volatility.
The ETF tracks the movement of the S&P 500 VIX Short-Term Futures Index, which could be affected by potential increased market volatility due to the upcoming Federal Reserve meeting.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50