ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

Nov 17, 2022Trade Ideas

With markets overbought, keep an eye on the Volatility Index (VIX).

For one, the Dow Jones, for example, is starting to fail at double top dating back to August. RSI, MACD, and Williams’ %R are all in overbought territory, as well. We’re also starting to see fear creep back into the market with some earnings disasters, and uncertainty over what the Federal Reserve is going to do next.

While many of us were hoping for an interest rate pause, others, like St. Louis Federal Reserve President James Bullard said the central bank still has a lot of work to do before it brings inflation under control. That statement alone adds to fear the Fed is nowhere near finished aggressively raising interest rates. Worse, there are still fears of recession.

That being said, investors may want to protect for a VIX spike, with the UVXY ETF. This ETF will typically track the moves of the VIX.

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