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 $2,425 million flowing out of the market. Bearish – bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
So you are in DTo. Hope it does well for you.
Fractal analysis suggests that TNA will make a last gasp tomorrow.
A plunge should (SHOULD) happen any day now. http://stockcharts.com/h-sc/ui?s=$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 🙂