$RUT could also consolidate sideways to work off the overbought condition and play out some kind of crazy triangle or flat. I'm not expecting big price movements in $RUT for the next few days, but the market can always make me look dumb 🙂
The last three candlesticks formed a Bullish Morning Star Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
It then goes on to describe in detail how to confirm the trend change (to buying TZA) based on what happens tomorrow.
TZA improved on bad consumer confidence numbers and closed up 3.3% today.
We are in a New Moon Trade (favors TZA). [ After six days, this trade is DOWN 7.5% ]
Volume today for TZA was the highest of the last 7 days.
$RVX (VIX for $RUT) closed 6.5% higher.
TZA was up today after being down nine days in a row.
Ultimate Oscillator jumped from 21 to 30 on the rise in TZA off the bottom.
Bollinger Bands for $RVX (VIX for $RUT): the lower BB was touched last Friday, but did not touch yesterday, and bounced away today, seemingly indicating that $RVX will be rising (good for TZA).
Bollinger Bands for $RUT: the upper band rose, moving farther away from $RUT which fell away sharply, indicating that TNA will continue to fall (good for TZA).
Overall, it looks like TZA will rise again tomorrow.
$RUT could also consolidate sideways to work off the overbought condition and play out some kind of crazy triangle or flat. I'm not expecting big price movements in $RUT for the next few days, but the market can always make me look dumb 🙂
http://www.americanbulls.com has an interesting view of TZA:
The last three candlesticks formed a Bullish Morning Star Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
It then goes on to describe in detail how to confirm the trend change (to buying TZA) based on what happens tomorrow.
How do you read this?
I don't normally watch this. I pulled it up (your link didn't work, but I looked at $RUT:$RVX), and decided I didn't know what it meant.
Dreadwin!! Where are you?
use RUT:RVX's BB seems to give a better entry point? I got this from dreadwin
http://stockcharts.com/h-sc/ui?s=%24RUT:%24RVX&…
TZA improved on bad consumer confidence numbers and closed up 3.3% today.
We are in a New Moon Trade (favors TZA).
[ After six days, this trade is DOWN 7.5% ]
Volume today for TZA was the highest of the last 7 days.
$RVX (VIX for $RUT) closed 6.5% higher.
TZA was up today after being down nine days in a row.
Ultimate Oscillator jumped from 21 to 30 on the rise in TZA off the bottom.
Bollinger Bands for $RVX (VIX for $RUT): the lower BB was touched last Friday, but did not touch yesterday, and bounced away today, seemingly indicating that $RVX will be rising (good for TZA).
Bollinger Bands for $RUT: the upper band rose, moving farther away from $RUT which fell away sharply, indicating that TNA will continue to fall (good for TZA).
Overall, it looks like TZA will rise again tomorrow.
Carl at days end:
Estimated /ES range: 1100-1112 (12 point range)
Actual /ES range: 1090.25-1112.75 (22.5 point range)
Missed the low of the day and the range by nearly 10 points
Carl's trading:
Bought /ES at 1003.50, sold at 1096.75 (-6.75)
Bought /ES 1t 1095, sold at 1095 (+0)
Grade D
Note: News came out and messed up everything, but it's all part of trading so Carl gets dinged.
Beats getting slaughtered, but it's somewhere below great 🙂
I worked for free, but I've had worse days 🙂
$RVX is ramping up (favors TZA).
I figured it might be a challenge trying to make something of an ugly day.
Break even is great!
Remember you did not get hurt and your brokerage house will be able to pay more bonuses now.