UVXY is Range bound even though the S & P continues to rise

UVXY is Range bound even though the S & P continues to rise. This shows accumulation of shares and or short covering at the lows. This is a bullish sign when the S & P is so over bought. Sooner or later there will be a correction and UVXY should explode to the upside. The number of days between up moves is near the average count for a move up, the buying as the S & P moves up and the hitting of 37,000 mark now tells me there is a good chance of a correction next week.