TZA opened up 2.1%. Gap was filled. TZA was up 2.8% at the high, and closed down 4.1%.
We are in a New Moon Trade, which favors TZA. After five days, this trade is down 4.6%, and owning TZA over night.
Volume for TZA was the highest of the last 28 days.
$RVX (VIX for $RUT) closed down 2.1% with TZA down 4.1%. No divergence.
TZA has now been down 3 of the last 7 days — a lot of chop.
The low for TZA today was $7.03. The low three days ago was $6.93 which is the lowest TZA price ever.
Ultimate Oscillator for TZA bottomed at 20 twenty one trading days ago and has generally risen since then but has remained below 50 and is currently 38. Indicating continued weakness for TZA. Yesterday was highest of the last 21 days, but a 4 point drop today broke the definite up trend. Bad for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s long black candle touched the top Bollinger Band at the open (not touched for 6 weeks or so) and fell back into the congestion area and below the Bollinger mid-line (20 day MA). MACD has crossed from below and may be rising. Looks like $RVX will be falling. Bad for TZA.
Bollinger Bands for $RUT: The large white candle for $RUT retraced the body of the long black candle last Friday. Looks like a topping process for $RUT is well underway. Good for TZA if really topping out here. MACD is getting ready to cross.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s white candle rose to sit in the congestion area again. The upper Bollinger Band seems to be falling. Looks like a topping process is well under way, which is good for TZA.
TZA had a higher high, lower low and much lower close – bad for TZA.
Money flow for the Total Stock Market was $657 million flowing out of the market on an up day. Seems backwards, but has now for 3 days.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks like TZA is in a bottoming process, rising and falling somewhat randomly. The next random move might be up.
the good news is that the operators have told you the SPY is going to print 107.82, the bad news is the time element could continue to wear on you mentally
I am showing a high for Friday of 117.13. Strange. Sadly Sundancer, I think I would have to get back to around your 107.82 to break even. Isn't that where Red saw the fake print a while back?
Obviously, I think we head down from here. Thus far, all I've done is avoided losing by getting short too early(… this time…). The market can prove me wrong at any time.
Well, it looks like they couldn't make a higher high. I live to fight another day then. Feel like I am being slowly roasted over hot coals. Good afternoon all and good job Dread!
Are you in TZA now? Nice Post I really do appreciate this daily update.
TZA opened up 2.1%. Gap was filled. TZA was up 2.8% at the high, and closed down 4.1%.
We are in a New Moon Trade, which favors TZA. After five days, this trade is down 4.6%, and owning TZA over night.
Volume for TZA was the highest of the last 28 days.
$RVX (VIX for $RUT) closed down 2.1% with TZA down 4.1%. No divergence.
TZA has now been down 3 of the last 7 days — a lot of chop.
The low for TZA today was $7.03. The low three days ago was $6.93 which is the lowest TZA price ever.
Ultimate Oscillator for TZA bottomed at 20 twenty one trading days ago and has generally risen since then but has remained below 50 and is currently 38. Indicating continued weakness for TZA. Yesterday was highest of the last 21 days, but a 4 point drop today broke the definite up trend. Bad for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s long black candle touched the top Bollinger Band at the open (not touched for 6 weeks or so) and fell back into the congestion area and below the Bollinger mid-line (20 day MA). MACD has crossed from below and may be rising. Looks like $RVX will be falling. Bad for TZA.
Bollinger Bands for $RUT: The large white candle for $RUT retraced the body of the long black candle last Friday. Looks like a topping process for $RUT is well underway. Good for TZA if really topping out here. MACD is getting ready to cross.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s white candle rose to sit in the congestion area again. The upper Bollinger Band seems to be falling. Looks like a topping process is well under way, which is good for TZA.
TZA had a higher high, lower low and much lower close – bad for TZA.
Money flow for the Total Stock Market was $657 million flowing out of the market on an up day. Seems backwards, but has now for 3 days.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks like TZA is in a bottoming process, rising and falling somewhat randomly. The next random move might be up.
i think it was around the crash gap of 107.34
the good news is that the operators have told you the SPY is going to print 107.82, the bad news is the time element could continue to wear on you mentally
I am showing a high for Friday of 117.13. Strange. Sadly Sundancer, I think I would have to get back to around your 107.82 to break even. Isn't that where Red saw the fake print a while back?
Well it's all about timing and you seem to really get it right. We shall see but I have faith in you.
Obviously, I think we head down from here. Thus far, all I've done is avoided losing by getting short too early(… this time…). The market can prove me wrong at any time.
what level does the $SPX need to get to for you to break even?
Carl at day’s end:
1145-1157 estimate today for /ES (12 points)
1147.75 -1163.25 actual today (15.50 points)
Spent most of the day above Carl’s high.
Trades:
In /ES at 1149.00, out at 1155.00 (gain of 6.00)
Grade B (one nice trade, but missed a big move)
$DJI & $NDX HC, but no $SPX, that's odd
Is anybody else showing a SPY 117.773 high for Friday?
Well, it looks like they couldn't make a higher high. I live to fight another day then. Feel like I am being slowly roasted over hot coals. Good afternoon all and good job Dread!