UVXY sets up for an epic reverse split

Daily Pit Stop [fstp, logo, header] April 10, 2024 [ag views, logo, header] UVXY sets up for an epic reverse split We don’t get this very often but the Proshares Ultra short term VIX futures ETF(Ticker: UVXY) is about to split 1 for 5 with an adjusted price of $35 from Wednesday’s close. The CPI number came in hot like all the other ones this year and traders hit the sell button on SPX from 40 points from the all-time high to 100 points from the all-time high. You note that the UVXY had a bit of a Jekel and Hyde day bouncing up and down to finish the day green. Could we get a 2% or 3% selloff in SPX? Not yet it seems. [fstp] UVXY holds VIX futures at a relatively high point for the year.  It will make a great selling opportunity come Friday. PPI is tomorrow and if anything like today, that should push UVXY a little higher. Note that the bid for volatility is not holding near highs and will need something special to push it higher tomorrow. - AG  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [fpri] US Interest on Debt Exploding Hey Income Hunters, After hitting $1 trillion in late 2023, interest expense on US debt rose to a record $1.1 trillion in late March. Now US debt is rising at a pace of $1 trillion every 3 months … That puts US interest expense at $100 billion every 4 months and growing every day.  [fpri]( Bank of America’s Michael Hartnett, dedicated his entire report this week to the higher interest expense, which he said is a "big motivation" for Powell to cut rates to "constrain the surge in interest costs." Can you imagine where gold would go if Powell does indeed cut rates, with inflation above 3%? [We will take a look below …]( - Bill  [fpip] The Doji Hi Shoppers, Before I get into the doji I am seeing and a new trade idea, I want to make sure you have secured your seat for the live event with Mark Sebastain and Greg Magadini. They are joining up for [our new crypto product]( and they will be coming to you live to tell you all about it. Pretty exciting stuff, you do not want to miss it. Onto the doji. Remember a doji is a change in trend candle found at the bottom of a downtrend or at the top of an uptrend. 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