Well, the markets did what I expected! How about you? The hourly upside divergence on January 18 on the UVXY and matching downside divergences in every major index has led to a great move that takes the pressure off from only looking at short-term charts!
Here's the clear divergence and double bottom on UVXY hourly completing at the first hour of trading on January 18, 2023
The SPY showed a divergence in the opposite direction with the increased volatility.
Looking at Out-of-the-money puts expiring the same day January 18, 2023, the 392 Puts were as low as 4c after the first hour of trading and reached over 50c in 2 hours.