Throw the charts out the window. We're trading fear here.
If WWIII starts this week (Israel/US/UK versus Syria/IRAN/RUSSIA) then the VIX (and future contracts) will blow up. You won't care about the charts. If there is no war, then UVXY could rise on a debt downgrade or any excuse that the pundits pick once the BIG money decides it's time to tank the market. Reward far outweighs risk in UVXY now as you have the market at all time HIGHS with the VIX near recent (past 3 years) lows and escalating financial and terrorist related crises on a global scale. You can bet there will be volatility -- at least I did by buying UVXY.