Does The Recent UVXY Spell Mean Trouble For The Market

UVXY seeks the daily investment results that corresponds to two times daily performance of the SP500 VIX short term futures.  This is a horrible investment vehicle and only a good trading one once in a blue moon.  Recently, on 5/20/15 UVXY did a 1 for 5 reverse split.  The recent splits have come after months and months of UVXY being in a downtrend while the SP500 inversely in an uptrend. Splits on the UVXY are sort of like a throw in the towel situation which in the past has not bode well the SP500 in the short term.  There's only been 4 reverse splits in the UVXY since 2012 (not including the most recent one), however 4 out the 4 have led to a short term decline in the SP500 as you can see in the chart below.