Monday November 19th, 2018by Mike PaulenoffUVXY-- The OTHER Inverted Head & Shoulders Pattern-- shows Right Shoulder development and maturity (see attached chart), as the price structure climbs from last week's pullback low at 46.23 to today's high at 58.93, pushing up towards a retest of the prior rally high at 62.90 on 11/15. Compare that chart with the attached ES IHS chart. BOTH OF THESE SET-UPS CANNOT EMERGE ON THE UPSIDE. One of these markets will be wrong, and its IHS set up will fail miserably. As of this moment, I have considerably more confidence in the UVXY set-up climbing towards the 70.60-71.50 "Neckline" Resistance Zone ahead of a potentially explosive UVXY upmove (remember Feb?), and my confidence level will increase if ES declines and sustains beneath its 11/15 "Right Shoulder" low at 2671.25... Last in UVXY is 58.30/35... Last in ES is 2696.50 Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial! * I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com * Tiger's Take: I hope Mike is wrong about which chart breaks. Market is looking ugly with all the tech selling off. Holiday week will skew things a bit. Historically the markets are strong the day before and after Turkey day. Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.