Market has a new low coming Rip, but it will try to shake out the short on Monday and Tuesday. Don't be surprised if you see a 200-300 point up day. Nothing would shock me now, as they will try to get the bulls back in, and scare out the bears.
It won't last too long… 2-3 days maybe. Once the 60 minute chart gets overbought again, and if the daily is still pointing down (which they still currently are), the selling will continue.
TNA was a Wait today, was up 4.2% today, but remains a Wait for tomorrow.
TZA was a Hold today, as down 4.4% today, and is a possible (and likely) sell for tomorrow. The buy price was $6.10, and TZA closed at $7.34, up 20.3% since the buy.
Of the stocks & ETFs I follow, these are to hold on to: IYR(1x RE) URE(2x RE) DRN(3x RE) UCO(2x Oil) GS EWG(Germany) EWQ(France) EWU(England)
The list to avoid: TNA(3x $RUT) UUP(US Dollar) GLD (gold) UGL (2x Gold) USO(oil) DRI GOOG DIA DRV (-3x RE) SCO (-2x Oil) DTO (-3x oil) EPV (-2x Europe)
The following are possible (but unlikely) buys tomorrow: SLV(silver) AAPL AMZN
The following are possible (but unlikely) sells tomorrow : SRS (-2x RE) FAZ (-3x Financials) DZZ (-2x Gold)
The following are quite likely buys tomorrow: IWM (1x $RUT) UWM (2x $RUT) ERX(3x energy) SPY QQQQ QLD (2x QQQQ) EWX(emerging mkts)
The following are quite likely sells tomorrow: RWM (-1x $RUT) TWM (-2x $RUT) TZA (-3x $RUT) ERY (-3x energy) SPXU (-3x $SPX) QID (-2x QQQQ) DXD (-2x DOW30)
Summary: Transitioning from Very Bearish to Bullish Action for TNA or TZA for tomorrow: Likely sell of TZA, avoid TNA
Red,, Anna is an animal lover .correct? you know darn well she cant resist loving you,,you old dog,,you… its like you piddled on her carpet,,she gets mad for a bit,but not for long..
We are now in a New Moon Trade, which tends to favor TZA. TZA opened up 5.0%, and the opening gap was filled. TZA was up 6.3% at it’s high, and closed down 4.5%.
AmericanBulls had TNA with a Wait today. TNA was up 4.2% today, but TNA will be a Wait again for tomorrow.
AmericanBulls had TZA with a Hold today. TZA was down 4.5% today, and will be possible (and likely) sell for tomorrow. The buying price was $6.10, and TZA closed at $7.34, up 20.3% in 4 days.
Volume for TZA today was 44% above it’s 1 month average. Good for TZA. Volume for TNA today was 63% above it’s 1 month average.
$RVX (VIX for $RUT) closed down 8.4% with TZA down 4.5%. No divergence.
TZA had been up 2 days, down 1, up 3, and now down 1. Choppy, but generally rising. Good for TZA.
The low for TZA was from 19 days ago at $5.30. Today’s low was $7.12, 34.5% higher. Good for TZA.
Today, Ultimate Oscillator for TZA fell from 56.4 to 54.7 (-1.7) while TZA was down 4.5%. No divergence. Bad for TZA.
MACD fastline above zero rising & slowline below zero but rising. Good for TZA.
Bollinger Bands for $RVX (VIX for $RUT): Today, $RVX fell and closed below the top Bollinger band. MACD both lines are rising pretty much vertically. This might be the 2nd day of a 3-day sequence ending in a $RUT buy signal. Good for TZA for the time being.
Bollinger Bands for $RUT: Today, $RUT had a long white candle that closed above the lower Bollinger Band. The bottom tip of today’s candle touched the 200 day moving average line. It looked like $RUT today dropped to the 200 day MA line and bounced. MACD is falling sharply. Could be very bad for TZA.
Yesterday: On the NYSE, down volume was 73 times the up volume. Usually, the market bounces after a number this large. Maybe not the next day, but the day after that. Today: On the NYSE, up volume was 9 times the down volume. A nice bounce, as expected (for today or tomorrow).
TZA had a much higher high & higher low & much higher close (Bad for TZA)
Money flow for the Total Stock Market: $ 264 million flowing out of the market 2 days ago. $ 1,568 million flowing out of the market yesterday. $13,442 million flowing out of the market today. Huge Outflow for an up market day. Good for TZA.
I will post the AmericanBulls candlestick interpretation a bit later.
I'll try to do a video if I have the extra time. It should be easier to explain it, but I just need to keep it under 10 minutes to load it on youtube. I have to study the chart so get a better picture for next week.
By Tuesday I believe the 60 minute chart will have topped, and be ready to roll back down. The daily and weekly still show NO signs of pointing back up. We have another sell off coming.
I'd estimate Tuesday or Wednesday to be the high on this rally. Where? I don't know? I don't see 114.30 spy, as that's too high I believe. We will have to see when we get there.
Red – also – maybe this weekend we do something on the fake prints which have not played out yet …. which give us an idea of whether there are any to the downside that have not played out ….
and a compilation of levels to watch for next week – your roadmap video idea sounds great 🙂
Red,
You are a sweetheart.
Everything will be fine. I am sure.
Nobody survives the market if he/she will relay on somebody else thoughts
Market has a new low coming Rip, but it will try to shake out the short on Monday and Tuesday. Don't be surprised if you see a 200-300 point up day. Nothing would shock me now, as they will try to get the bulls back in, and scare out the bears.
It won't last too long… 2-3 days maybe. Once the 60 minute chart gets overbought again, and if the daily is still pointing down (which they still currently are), the selling will continue.
The Daily view from Americanbulls
TNA was a Wait today, was up 4.2% today, but remains a Wait for tomorrow.
TZA was a Hold today, as down 4.4% today, and is a possible (and likely) sell for tomorrow. The buy price was $6.10, and TZA closed at $7.34, up 20.3% since the buy.
Of the stocks & ETFs I follow, these are to hold on to:
IYR(1x RE)
URE(2x RE)
DRN(3x RE)
UCO(2x Oil)
GS
EWG(Germany)
EWQ(France)
EWU(England)
The list to avoid:
TNA(3x $RUT)
UUP(US Dollar)
GLD (gold)
UGL (2x Gold)
USO(oil)
DRI
GOOG
DIA
DRV (-3x RE)
SCO (-2x Oil)
DTO (-3x oil)
EPV (-2x Europe)
The following are possible (but unlikely) buys tomorrow:
SLV(silver)
AAPL
AMZN
The following are possible (but unlikely) sells tomorrow :
SRS (-2x RE)
FAZ (-3x Financials)
DZZ (-2x Gold)
The following are quite likely buys tomorrow:
IWM (1x $RUT)
UWM (2x $RUT)
ERX(3x energy)
SPY
QQQQ
QLD (2x QQQQ)
EWX(emerging mkts)
The following are quite likely sells tomorrow:
RWM (-1x $RUT)
TWM (-2x $RUT)
TZA (-3x $RUT)
ERY (-3x energy)
SPXU (-3x $SPX)
QID (-2x QQQQ)
DXD (-2x DOW30)
Summary: Transitioning from Very Bearish to Bullish
Action for TNA or TZA for tomorrow: Likely sell of TZA, avoid TNA
High of the day was 1090.16 at about noon, which hasn't been topped yet. That rally at EOD may well have been all hat and no cattle.
Boy, today hurt like a bar steward, but every chart I'm looking at says the direction is still down.
Red,, Anna is an animal lover .correct? you know darn well she cant resist loving you,,you old dog,,you… its like you piddled on her carpet,,she gets mad for a bit,but not for long..
We are now in a New Moon Trade, which tends to favor TZA.
TZA opened up 5.0%, and the opening gap was filled. TZA was up 6.3% at it’s high, and closed down 4.5%.
AmericanBulls had TNA with a Wait today. TNA was up 4.2% today, but TNA will be a Wait again for tomorrow.
AmericanBulls had TZA with a Hold today. TZA was down 4.5% today, and will be possible (and likely) sell for tomorrow. The buying price was $6.10, and TZA closed at $7.34, up 20.3% in 4 days.
Volume for TZA today was 44% above it’s 1 month average. Good for TZA.
Volume for TNA today was 63% above it’s 1 month average.
$RVX (VIX for $RUT) closed down 8.4% with TZA down 4.5%. No divergence.
TZA had been up 2 days, down 1, up 3, and now down 1. Choppy, but generally rising. Good for TZA.
The low for TZA was from 19 days ago at $5.30. Today’s low was $7.12, 34.5% higher. Good for TZA.
Today, Ultimate Oscillator for TZA fell from 56.4 to 54.7 (-1.7) while TZA was down 4.5%. No divergence. Bad for TZA.
MACD fastline above zero rising & slowline below zero but rising. Good for TZA.
Bollinger Bands for $RVX (VIX for $RUT): Today, $RVX fell and closed below the top Bollinger band. MACD both lines are rising pretty much vertically. This might be the 2nd day of a 3-day sequence ending in a $RUT buy signal. Good for TZA for the time being.
Bollinger Bands for $RUT: Today, $RUT had a long white candle that closed above the lower Bollinger Band. The bottom tip of today’s candle touched the 200 day moving average line. It looked like $RUT today dropped to the 200 day MA line and bounced. MACD is falling sharply. Could be very bad for TZA.
Yesterday: On the NYSE, down volume was 73 times the up volume. Usually, the market bounces after a number this large. Maybe not the next day, but the day after that.
Today: On the NYSE, up volume was 9 times the down volume. A nice bounce, as expected (for today or tomorrow).
TZA had a much higher high & higher low & much higher close (Bad for TZA)
Money flow for the Total Stock Market:
$ 264 million flowing out of the market 2 days ago.
$ 1,568 million flowing out of the market yesterday.
$13,442 million flowing out of the market today.
Huge Outflow for an up market day. Good for TZA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, Bad for TZA for tomorrow
I'll try to do a video if I have the extra time. It should be easier to explain it, but I just need to keep it under 10 minutes to load it on youtube. I have to study the chart so get a better picture for next week.
By Tuesday I believe the 60 minute chart will have topped, and be ready to roll back down. The daily and weekly still show NO signs of pointing back up. We have another sell off coming.
I'd estimate Tuesday or Wednesday to be the high on this rally. Where? I don't know? I don't see 114.30 spy, as that's too high I believe. We will have to see when we get there.
Red – also – maybe this weekend we do something on the fake prints which have not played out yet …. which give us an idea of whether there are any to the downside that have not played out ….
and a compilation of levels to watch for next week – your roadmap video idea sounds great 🙂
Just a thought 🙂