Glad to know that all of my TZA charts are making a lasting impression. If TZA stops around here (7.06), and goes up, I'd say that that pattern has held.
TZA has less room to run up to the 20 day MA than many of the other 3x ETFs, so it isn't my preferred play at the moment.
Your timing is great. I don't think we have much more upside today and I don't think we close above last week's S&P high (3/17) as mentioned by Sundancer.
That is the nature of the beast with support and resistance. Reaching that point is onething. What happens there is another. Bouncing off a S/R or containment point is a reversal. Shooting through it, is a continuation of the existing trend. Just arriving at the S/R point, is only half the story.
Everyone must be shocked at the market's action today.
The daily indicators are showing a topping action. I am looking to enter short position very soon. Half way to a confirmed sell signal. Waiting for the remaining ones to catch up. Expecting that to complete within this week.
Everything is subjected to revision pending new development. One data point at a time.
TNA has a BUY-IF (buy tomorrow if conditions are right) signal today. The candlestick today was a Long White Candlestick (strong buying pressure). The last two candlesticks formed a Bullish Piercing Line Pattern – a highly reliable bullish reversal pattern.
AmericanBulls has TNA up 0.04% since the sell yesterday.
TZA has a SELL-IF (sell tomorrow if conditions are right) signal today. The candlestick today was a Long Black Candlestick (strong selling pressure). The last two candlesticks formed a Bearish Dark Cloud Cover Pattern – a highly reliable bearish reversal pattern.
AmericanBulls has TZA down 0.28% since the buy yesterday.
Summary of $RUT based ETFs: BUY-IF: IWM (1x), UWM (2x), TNA (3x) SELL-IF: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: Possible buy of TNA, possible sell of TZA
ah – that's right. Yes, if we go higher from here, I'm out. If we make a slow up and down descent down, I can handle it. As long as we don't make new highs.
Glad to know that all of my TZA charts are making a lasting impression. If TZA stops around here (7.06), and goes up, I'd say that that pattern has held.
TZA has less room to run up to the 20 day MA than many of the other 3x ETFs, so it isn't my preferred play at the moment.
Will have to see. Too soon to tell yet. The potential is there.
Yes, very true.
Your timing is great. I don't think we have much more upside today and I don't think we close above last week's S&P high (3/17) as mentioned by Sundancer.
That is the nature of the beast with support and resistance. Reaching that point is onething. What happens there is another. Bouncing off a S/R or containment point is a reversal. Shooting through it, is a continuation of the existing trend. Just arriving at the S/R point, is only half the story.
Everyone must be shocked at the market's action today.
The daily indicators are showing a topping action. I am looking to enter short position very soon. Half way to a confirmed sell signal. Waiting for the remaining ones to catch up. Expecting that to complete within this week.
Everything is subjected to revision pending new development. One data point at a time.
TZA has a lot going for it right now.
http://www.screencast.com/users/dreadwin/folder…
I went in to DRV because of the more attractive volume action.
The Daily view from Americanbulls
TNA has a BUY-IF (buy tomorrow if conditions are right) signal today. The candlestick today was a Long White Candlestick (strong buying pressure). The last two candlesticks formed a Bullish Piercing Line Pattern – a highly reliable bullish reversal pattern.
AmericanBulls has TNA up 0.04% since the sell yesterday.
TZA has a SELL-IF (sell tomorrow if conditions are right) signal today. The candlestick today was a Long Black Candlestick (strong selling pressure). The last two candlesticks formed a Bearish Dark Cloud Cover Pattern – a highly reliable bearish reversal pattern.
AmericanBulls has TZA down 0.28% since the buy yesterday.
Summary of $RUT based ETFs:
BUY-IF: IWM (1x), UWM (2x), TNA (3x)
SELL-IF: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: Possible buy of TNA, possible sell of TZA
ah – that's right. Yes, if we go higher from here, I'm out. If we make a slow up and down descent down, I can handle it. As long as we don't make new highs.
I am all cash again. Nice price right now for TZA.