TNA remains a WAIT (wait for some kind of buy signal). The sell was at $55.61. TNA closed today at $55.38, down 0.4% since the sale. The candlestick today was a White Spinning Top Candlestick (complete indecision between Bulls and Bears).
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $7.06, up 0.28% since the buy. The candlestick today was a doji (a tug-of-war between buyers and sellers).
Two recent TZA Buy signals have failed and may perhaps serve as a warning: Buy at $7.33, sell at $7.14 Buy at $7.11, sell at $7.05 Buy at $7.04, now up 0.28%
For that matter, recent TNA Buy signals have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs: (Market positive): Not very reliable BUY-IF: UWM(2x), URE(2x), IYR(1x) Wait: DRV (-3x), SRS(-2x) Highly reliable BUY-IF: SPY, DIA Hold: IWM(1x), DRN(3x) BUY-IF: QQQQ (Bullish Homing Pigeon Pattern, not very reliable, followed by Doji)
TZA opened down 1.2%. Gap from $7.17 to $7.16 was not filled. TZA was down 0.1% at the high, and closed down 1.5%.
We are in a New Moon Trade, which favors TZA. After nine days, this trade is down 3.8%, and owns TZA over night.
Volume for TZA was roughly average.
$RVX (VIX for $RUT) was down 3.7% today with TZA down 1.5%. No divergence.
TZA had been up 3 days in a row, but down today. Not good for TZA.
The low for TZA two days ago was $6.70, the lowest TZA price ever. The low today was $6.99, 4.3% above that low. Good for TZA.
Ultimate Oscillator for TZA bottomed at 20 twenty four trading days ago and has generally risen since then but has remained below 50 for twenty two days and finally broke above 50 yesterday and today. Indicating the end of weakness for TZA. Good for TZA.
MACD on the monthly chart crossed over upwards three days ago and is moving up. This last happened 2 months ago. Good for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s black candle closed below the Top Bollinger Band. MACD has crossed from below and is rising. Looks like $RVX will be falling. The last time $RVX closed above the Top Bollinger Band (like what happened two days ago), $RUT fell for 10 days. Good for TZA.
Bollinger Bands for $RUT: The doji 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. Good for TZA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s doji candle rose to just below the congestion area. The upper Bollinger Band is falling. Looks like a confirming that the topping process is continuing. Good for TZA.
TZA had a lower high, higher low and lower close – neutral for TZA.
Money flow for the Total Stock Market was $351 million flowing out of the market on a slightly up day. Generally good for TZA.
I will post the AmericanBulls candlestick interpretation a bit later.
The Daily view from Americanbulls
TNA remains a WAIT (wait for some kind of buy signal). The sell was at $55.61. TNA closed today at $55.38, down 0.4% since the sale. The candlestick today was a White Spinning Top Candlestick (complete indecision between Bulls and Bears).
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $7.06, up 0.28% since the buy. The candlestick today was a doji (a tug-of-war between buyers and sellers).
Two recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, now up 0.28%
For that matter, recent TNA Buy signals have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs:
(Market positive):
Not very reliable BUY-IF: UWM(2x), URE(2x), IYR(1x)
Wait: DRV (-3x), SRS(-2x)
Highly reliable BUY-IF: SPY, DIA
Hold: IWM(1x), DRN(3x)
BUY-IF: QQQQ (Bullish Homing Pigeon Pattern, not very reliable, followed by Doji)
(Market negative):
Wait: TNA (3x)
Hold: RWM (-1x), TWM (-2x), TZA (-3x)
Action for Monday: none
TZA opened down 1.2%. Gap from $7.17 to $7.16 was not filled. TZA was down 0.1% at the high, and closed down 1.5%.
We are in a New Moon Trade, which favors TZA.
After nine days, this trade is down 3.8%, and owns TZA over night.
Volume for TZA was roughly average.
$RVX (VIX for $RUT) was down 3.7% today with TZA down 1.5%. No divergence.
TZA had been up 3 days in a row, but down today. Not good for TZA.
The low for TZA two days ago was $6.70, the lowest TZA price ever. The low today was $6.99, 4.3% above that low. Good for TZA.
Ultimate Oscillator for TZA bottomed at 20 twenty four trading days ago and has generally risen since then but has remained below 50 for twenty two days and finally broke above 50 yesterday and today. Indicating the end of weakness for TZA. Good for TZA.
MACD on the monthly chart crossed over upwards three days ago and is moving up. This last happened 2 months ago. Good for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s black candle closed below the Top Bollinger Band. MACD has crossed from below and is rising. Looks like $RVX will be falling. The last time $RVX closed above the Top Bollinger Band (like what happened two days ago), $RUT fell for 10 days. Good for TZA.
Bollinger Bands for $RUT: The doji 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. Good for TZA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s doji candle rose to just below the congestion area. The upper Bollinger Band is falling. Looks like a confirming that the topping process is continuing. Good for TZA.
TZA had a lower high, higher low and lower close – neutral for TZA.
Money flow for the Total Stock Market was $351 million flowing out of the market on a slightly up day. Generally good for TZA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks good for TZA for tomorrow.
Carl at day’s end:
1163-1175 estimate for today (12 points)
1165.25 -1171 actual today (5.75 points)
Today was inside Carl’s range.
Trades:
In /ES at 1168.50 and 1168.25, did not sell. (1168.75 currently)
Grade: Incomplete
Part of IB has it 8.61 also. IB chart has it 8.65.
Consistency would be nice.
I stand corrected.
Stockcharts shows DRV's Friday close at 8.61 as does AB and Google. Today's close is 8.64.
Dreadwin,
I have DRV with a green bar, but closing down 3 cents from Friday's close, so not the traditional green.
Thanks Sundancer.
Maybe. DRV (3x bear real estate) was green today. Not all sectors are participating in the ramp up.
your day in the SUN will come, it's always darkest before the SUN rises
Well that means now the count can start over again. lol
Hope springs eternal… lol