Volatility Pops As Stock Market Trades Muted Ahead Of Big Earnings Week: This Fund Offers 1.5X Leverage
Portfolio Pulse from Melanie Schaffer
Ahead of a big earnings week, the SPDR S&P 500 (NYSE:SPY) traded flat while the CBOE Volatility Index (CBOE: VIX) rose by 4.5%. The ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY), a 1.5x leveraged fund, also traded flat. The SPKY's double inside bar pattern leans bullish, indicating a potential upward break. However, if the ETF breaks down under $4.55, a downtrend is likely to resume.
July 31, 2023 | 2:40 pm
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SPKY traded flat, with a double inside bar pattern indicating a potential bullish trend. However, a break under $4.55 could signal a downtrend.
The flat trading of SPKY, combined with the double inside bar pattern, suggests potential for an upward trend. However, if the ETF breaks under $4.55, a downtrend is likely.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY traded flat ahead of a big earnings week.
The flat trading of SPY indicates a wait-and-see approach by investors ahead of the earnings week. This could lead to increased volatility in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
UVXY was mentioned in comparison to SPKY, but no specific trading information was provided.
UVXY was mentioned in the article as a comparison to SPKY, but no specific trading information or trends were provided for UVXY.
CONFIDENCE 75
IMPORTANCE 20
RELEVANCE 30