TNA gapped up for the 3rd day in a row. The gap up was 1.3% and TNA closed up 1.3%. TNA was up 3.2% today at its peak.
We are in a Full Moon Trade, which favors TNA. After three days, this trade is up 9.7%.
Volume today for TNA was roughly normal for these past 13 days.
$RVX (VIX for $RUT) closed 0.1% higher with TNA up 1.3%. A tiny bit of a divergence (they should go different directions) and possibly bad for TNA, for the 2nd day in a row.
TNA has been up 14 of the past 16 days.
The high for TNA today was $48.98, the highest TNA since Oct 21st.
Ultimate Oscillator for TNA peaked at 78 eight trading days ago and has generally fallen since then but has remained above 50 and is currently 66. Indicating continued strength for TNA.
However, TNA today closed 8% higher than that day with the peak Ultimate Oscillator value. A higher close with a lower Ultimate Oscillator value might be seen as negative divergence indicating that TNA is due to fall.
Also, TNA was up 1.3% today, but the Ultimate Oscillator dropped from 68.3 to 66.9 – a bit of a divergence & the 2nd day in a row for such a divergence.
Bollinger Bands for $RVX (VIX for $RUT): today’s doji candle closed farther from the lower band and the lower Bollinger band dropped **off the chart**. Since the candle was a doji and the bottom of the band can’t be seen, best to call this indecisive.
Bollinger Bands for $RUT: $RUT rose to near the upper Bollinger Band, but that upper band rose today, indicating that $RUT could rise again tomorrow, favoring TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s candle was a doji (sort of), and remained in the area of the prior two candles. Best to call this indecisive.
Overall, it looks like TNA continues to move above an area of congestion and might continue rising tomorrow. The doji and the divergences seem to be warning of a possible reversal tomorrow.
I agree. I'm still 100% short. Just using the day trading buying power to try to stay afloat. I close out those positions at the end of every day. But we could top anywhere from here to next Wednesday IMHO. If we go higher after that, I really become skeptical.
round and round we go, you'll notice the operators stopped the $SPX 2 pts. shy of the 1127.38 gap
now this morning I alluded to the $SPX index gap @ the opening which is now very important because coming into today the $SPX had 5 consecutive higher closes than opens. The operators closed the $SPX index below it's open fulfilling it's consecutive close sequence.
Looking ahead to tomorrow: we've had 4 consecutive gap downs on Thursdays so that charade is getting exhausted and with the payrolls friday a flat opening seems most likely.
News doesn't matter. Everyone is banking on that news. 41 day cycle top Monday. We top Tuesday or Wednesday. I'm hanging on. We may have a down day tomorrow but then we'll have an up day Monday. Choppy till we top.
My chart:
http://www.screencast.com/users/dreadwin/folder…
Go to stockcharts, add bollinger bands and watch the ratio of $RUT:$RVX.
TNA gapped up for the 3rd day in a row. The gap up was 1.3% and TNA closed up 1.3%. TNA was up 3.2% today at its peak.
We are in a Full Moon Trade, which favors TNA.
After three days, this trade is up 9.7%.
Volume today for TNA was roughly normal for these past 13 days.
$RVX (VIX for $RUT) closed 0.1% higher with TNA up 1.3%. A tiny bit of a divergence (they should go different directions) and possibly bad for TNA, for the 2nd day in a row.
TNA has been up 14 of the past 16 days.
The high for TNA today was $48.98, the highest TNA since Oct 21st.
Ultimate Oscillator for TNA peaked at 78 eight trading days ago and has generally fallen since then but has remained above 50 and is currently 66. Indicating continued strength for TNA.
However, TNA today closed 8% higher than that day with the peak Ultimate Oscillator value. A higher close with a lower Ultimate Oscillator value might be seen as negative divergence indicating that TNA is due to fall.
Also, TNA was up 1.3% today, but the Ultimate Oscillator dropped from 68.3 to 66.9 – a bit of a divergence & the 2nd day in a row for such a divergence.
Bollinger Bands for $RVX (VIX for $RUT): today’s doji candle closed farther from the lower band and the lower Bollinger band dropped **off the chart**. Since the candle was a doji and the bottom of the band can’t be seen, best to call this indecisive.
Bollinger Bands for $RUT: $RUT rose to near the upper Bollinger Band, but that upper band rose today, indicating that $RUT could rise again tomorrow, favoring TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s candle was a doji (sort of), and remained in the area of the prior two candles. Best to call this indecisive.
http://www.americanbulls.com had TNA as a BUY on Feb 9th, and hold since then. TNA remains a hold for tomorrow.
Overall, it looks like TNA continues to move above an area of congestion and might continue rising tomorrow. The doji and the divergences seem to be warning of a possible reversal tomorrow.
I agree. I'm still 100% short. Just using the day trading buying power to try to stay afloat. I close out those positions at the end of every day. But we could top anywhere from here to next Wednesday IMHO. If we go higher after that, I really become skeptical.
I think closing shorts now is essentially buying near the interim term top. I hope I'm right about that.
Dread – can u share a chart link for the same $RUT:$RVX ….
for those wandering why there is so much dancing in the SPY 112.72 area, this maybe of interest to you
http://www.flickr.com/photos/47091634@N04/44050…
if this trendline doesn't produce a reaction very soon, a large uni-directional move will ensue over the TL
round and round we go, you'll notice the operators stopped the $SPX 2 pts. shy of the 1127.38 gap
now this morning I alluded to the $SPX index gap @ the opening which is now very important because coming into today the $SPX had 5 consecutive higher closes than opens. The operators closed the $SPX index below it's open fulfilling it's consecutive close sequence.
Looking ahead to tomorrow: we've had 4 consecutive gap downs on Thursdays so that charade is getting exhausted and with the payrolls friday a flat opening seems most likely.
News doesn't matter. Everyone is banking on that news. 41 day cycle top Monday. We top Tuesday or Wednesday. I'm hanging on. We may have a down day tomorrow but then we'll have an up day Monday. Choppy till we top.
Carl at days end:
1116 – 1130 today's range estimate.
1115.50 – 1125 actual range for today
Carl’s trades
In 1119 out 1116 (loss of 3 in one day)
In 1098.50 last Friday out at 1119 today (gain of 20.5 over 4 day period)
Grade: A
Carl sold other unit at 1119.00 – now flat