I'm not going out on a limb and saying that “the top” was put in today… but it's highly likely. Of course it might not be the final top, as I suspect we churn higher into the summer months.
If this wasn't the short term top… we are within sneezing distance now.
TZA opened down 2.7%. Gap was filled, as was yesterday’s gap ($6.82 to $6.84). TZA was up 2.0% at the high, and closed up 1.7%.
We are in a New Moon Trade, which favors TZA. Following AmericanBulls guidelines, this trade bought TZA today at yesterday’s closing price ($7.04). After eight days, this trade is down 2.4%, and owns TZA over night.
Volume for TZA was fairly high overall, and the highest volume for an up day in 34 days. Good for TZA.
$RVX (VIX for $RUT) was up 6.0% yesterday and closed up 6.8% today with TZA up 1.7%. No divergence.
TZA has now been up 6 of the last 10 days — chop.
The low for TZA today was $6.70, the lowest TZA price since the birth of George Washington. Not good for TZA.
Ultimate Oscillator for TZA bottomed at 20 twenty three trading days ago and has generally risen since then but has remained below 50 for twenty two days and finally broke above 50 (50.152). Indicating the end of weakness for TZA. Was up 11 points today. Rather fantastic for TZA.
MACD on the monthly chart crossed over upwards slightly (0.009) yesterday, and is at 0.034 today. This last happened 2 months ago. Rather fantastic for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s huge white candle rose above the congestion area and closed above 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, $RUT fell for 10 days. Good for TZA.
Bollinger Bands for $RUT: The black candle for $RUT fell back into a congestion area. The top Bollinger band is falling, and $RUT seems to have returned to a topping formation. MACD crossed down today. Good for TZA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s black candle fell far below the congestion area. The upper Bollinger Band is falling. Looks like a confirming that the topping process is completing. Good for TZA.
TZA had a higher high, lower low and higher close – very good for TZA.
Money flow for the Total Stock Market was $365 million flowing out of the market on an down day. Generally good for TZA.
I will post the AmericanBulls candlestick interpretation a bit later.
LOL… I actually show 118.1666 spy for the high. Cute huh?
for those with eagle eyes will notice the operator stopped GS .02 shy of it's 1/7/10 high today, it's sequence of lower highs remains unbroken
what are you showing for the HOD on SPY?
I've got 118.17, but the high trade was 118.10
I'm not going out on a limb and saying that “the top” was put in today… but it's highly likely. Of course it might not be the final top, as I suspect we churn higher into the summer months.
If this wasn't the short term top… we are within sneezing distance now.
TZA opened down 2.7%. Gap was filled, as was yesterday’s gap ($6.82 to $6.84). TZA was up 2.0% at the high, and closed up 1.7%.
We are in a New Moon Trade, which favors TZA.
Following AmericanBulls guidelines, this trade bought TZA today at yesterday’s closing price ($7.04).
After eight days, this trade is down 2.4%, and owns TZA over night.
Volume for TZA was fairly high overall, and the highest volume for an up day in 34 days. Good for TZA.
$RVX (VIX for $RUT) was up 6.0% yesterday and closed up 6.8% today with TZA up 1.7%. No divergence.
TZA has now been up 6 of the last 10 days — chop.
The low for TZA today was $6.70, the lowest TZA price since the birth of George Washington. Not good for TZA.
Ultimate Oscillator for TZA bottomed at 20 twenty three trading days ago and has generally risen since then but has remained below 50 for twenty two days and finally broke above 50 (50.152). Indicating the end of weakness for TZA. Was up 11 points today. Rather fantastic for TZA.
MACD on the monthly chart crossed over upwards slightly (0.009) yesterday, and is at 0.034 today. This last happened 2 months ago. Rather fantastic for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s huge white candle rose above the congestion area and closed above 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, $RUT fell for 10 days. Good for TZA.
Bollinger Bands for $RUT: The black candle for $RUT fell back into a congestion area. The top Bollinger band is falling, and $RUT seems to have returned to a topping formation. MACD crossed down today. Good for TZA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s black candle fell far below the congestion area. The upper Bollinger Band is falling. Looks like a confirming that the topping process is completing. Good for TZA.
TZA had a higher high, lower low and higher close – very good for TZA.
Money flow for the Total Stock Market was $365 million flowing out of the market on an down day. Generally good for TZA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks very good for TZA tomorrow.
Carl missed the run, and jumped back in too early when it fell. Tough market.
Carl at day’s end:
1165-1176 estimate for today (11 points)
1160.25 -1176.50 actual today (16.25 points)
Nailed the high, missed the low
Trades:
In /ES at 1167.25, out at 1164.50 (loss of 2.75 points)
Grade D (lost money)
🙂
Carl just sold one unit at 1164.50
Love you Sundancer! Thank you 🙂