A plunge should (SHOULD) happen any day now. http://stockcharts.com/h-sc/ui?s=$nymo That with Poco's chart gives me some hope that this consolidation will lead to a down move rather than an up one.
I set a limit order for 59.25 when it was trading at 59.50ish; betting on a wave 2 fib retrace of 50%. Then I went to a meeting for 2 hours. Just came back from my meeting to discover that I got my fill and am in the green.
TNA opened down 1.1%. Gap was filled. TNA was up 1.8% at the high, and closed down 2.4%.
We are now in a Full Moon Trade, which tends to favor TNA. AmericanBulls had TNA with a WAIT signal yesterday, so this trade was in cash today. Will buy TNA when AB has a confirmed BUY signal (which won’t be today as TNA was down today).
Volume for TNA today and the 2 days before today (Holiday Week) were the 3 lowest of the last 17 days.
$RVX (VIX for $RUT) was up 2.9 % today with TNA down 2.4%. No divergence.
TNA has now been down 4 of the last 6 days. Bad for TNA.
The high for TNA three days ago was $58.23, the highest TNA price since November of 2008. The high today was $56.94, 2.2% below that high.
Ultimate Oscillator for TNA fell from 51 to 39 today, a large drop. UO has been below 50 4 of the last 5 days. Indicates (shouts) weakness for TNA. Bad for TNA.
MACD on the monthly chart crossed over downwards four days ago and is moving down. Bad for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s white candle closed above the Bollinger mid line (20 day MA), in an area of congestion. MACD has crossed from below and is rising. Looks like $RVX might be rising. Bad for TNA.
Bollinger Bands for $RUT: The small white candle for $RUT is in the congestion area. The top Bollinger band is falling, and $RUT seems to be in a mature topping formation. MACD has crossed down. Bad for TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s black candle fell to the bottom of the congestion area. The upper Bollinger Band is falling. Looks like the topping process is continuing. Bad for TNA.
TZA had a higher high, lower low and much lower close – bad for TNA.
Money flow for the Total Stock Market was $2,425 million flowing out of the market. Bearish – bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
I hope XLF closes above 16.09 tomorrow as it would provide a good weekly setup
XLF currently has 6 consecutive higher closes than opens on the weekly, in the last 249 weeks XLF has no occurrences more than 7 consecutive higher closes than opens
Then Alsha wrote this: However I do find it a bit strange that JPM is a consistent participant of this little game on the SPY, while SHI Capital (name is ironic I find) is always there to buy this market for a large paper buyer when these funny events happen… Both JPM and SHI usually come in at the same time but one is on the ETF, while the other on the futures. They seem to always be there to save the day whenever the market is about to fall off a cliff.
Futures now all the way back up to 1168 from 1162.75… I'm getting really tired of their games personally, and thats why I'm always scared to death of holding EOD shorts into the close.
A plunge should (SHOULD) happen any day now. http://stockcharts.com/h-sc/ui?s=$nymo
That with Poco's chart gives me some hope that this consolidation will lead to a down move rather than an up one.
I set a limit order for 59.25 when it was trading at 59.50ish; betting on a wave 2 fib retrace of 50%. Then I went to a meeting for 2 hours. Just came back from my meeting to discover that I got my fill and am in the green.
I tend to agree.
At some point things may unfold the way they look.
Earl, thanks, I kind of think TNA will be up tomorrow. Not planning on buying any today.
That did the trick, Thanks again.
TNA opened down 1.1%. Gap was filled. TNA was up 1.8% at the high, and closed down 2.4%.
We are now in a Full Moon Trade, which tends to favor TNA.
AmericanBulls had TNA with a WAIT signal yesterday, so this trade was in cash today.
Will buy TNA when AB has a confirmed BUY signal (which won’t be today as TNA was down today).
Volume for TNA today and the 2 days before today (Holiday Week) were the 3 lowest of the last 17 days.
$RVX (VIX for $RUT) was up 2.9 % today with TNA down 2.4%. No divergence.
TNA has now been down 4 of the last 6 days. Bad for TNA.
The high for TNA three days ago was $58.23, the highest TNA price since November of 2008. The high today was $56.94, 2.2% below that high.
Ultimate Oscillator for TNA fell from 51 to 39 today, a large drop. UO has been below 50 4 of the last 5 days. Indicates (shouts) weakness for TNA. Bad for TNA.
MACD on the monthly chart crossed over downwards four days ago and is moving down. Bad for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s white candle closed above the Bollinger mid line (20 day MA), in an area of congestion. MACD has crossed from below and is rising. Looks like $RVX might be rising. Bad for TNA.
Bollinger Bands for $RUT: The small white candle for $RUT is in the congestion area. The top Bollinger band is falling, and $RUT seems to be in a mature topping formation. MACD has crossed down. Bad for TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s black candle fell to the bottom of the congestion area. The upper Bollinger Band is falling. Looks like the topping process is continuing. Bad for TNA.
TZA had a higher high, lower low and much lower close – bad for TNA.
Money flow for the Total Stock Market was $2,425 million flowing out of the market. Bearish – bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks bad for TNA for tomorrow.
Thanks, I'll give that a try.
Thanks Sundancer. Hopefully it cracks before I do 🙂
I hope XLF closes above 16.09 tomorrow as it would provide a good weekly setup
XLF currently has 6 consecutive higher closes than opens on the weekly, in the last 249 weeks XLF has no occurrences more than 7 consecutive higher closes than opens
Then Alsha wrote this:
However I do find it a bit strange that JPM is a consistent participant of this little game on the SPY, while SHI Capital (name is ironic I find) is always there to buy this market for a large paper buyer when these funny events happen… Both JPM and SHI usually come in at the same time but one is on the ETF, while the other on the futures. They seem to always be there to save the day whenever the market is about to fall off a cliff.
Futures now all the way back up to 1168 from 1162.75… I'm getting really tired of their games personally, and thats why I'm always scared to death of holding EOD shorts into the close.