June S&P E-mini Futures: Today's range estimate is 1155 – 1170. I think a move to 1200 is underway. First upside target is 1175.
1147.75 -1163.25 actual yesterday (15.50 points) 1164.75 (last night's high) 1155-1170 estimate for today (15 points) 1163.50 currently, so estimate is -8.50 to +6.50 from here (neutral)
TNA has a BUY-IF (buy tomorrow if conditions are right) signal today. The candlestick today was a Long White Candlestick (strong buying pressure). The last two candlesticks formed a Bullish Piercing Line Pattern – a highly reliable bullish reversal pattern.
AmericanBulls has TNA up 0.04% since the sell yesterday.
TZA has a SELL-IF (sell tomorrow if conditions are right) signal today. The candlestick today was a Long Black Candlestick (strong selling pressure). The last two candlesticks formed a Bearish Dark Cloud Cover Pattern – a highly reliable bearish reversal pattern.
AmericanBulls has TZA down 0.28% since the buy yesterday.
Summary of $RUT based ETFs: BUY-IF: IWM (1x), UWM (2x), TNA (3x) SELL-IF: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: Possible buy of TNA, possible sell of TZA
ah – that's right. Yes, if we go higher from here, I'm out. If we make a slow up and down descent down, I can handle it. As long as we don't make new highs.
TZA opened up 2.1%. Gap was filled. TZA was up 2.8% at the high, and closed down 4.1%.
We are in a New Moon Trade, which favors TZA. After five days, this trade is down 4.6%, and owning TZA over night.
Volume for TZA was the highest of the last 28 days.
$RVX (VIX for $RUT) closed down 2.1% with TZA down 4.1%. No divergence.
TZA has now been down 3 of the last 7 days — a lot of chop.
The low for TZA today was $7.03. The low three days ago was $6.93 which is the lowest TZA price ever.
Ultimate Oscillator for TZA bottomed at 20 twenty one trading days ago and has generally risen since then but has remained below 50 and is currently 38. Indicating continued weakness for TZA. Yesterday was highest of the last 21 days, but a 4 point drop today broke the definite up trend. Bad for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s long black candle touched the top Bollinger Band at the open (not touched for 6 weeks or so) and fell back into the congestion area and below the Bollinger mid-line (20 day MA). MACD has crossed from below and may be rising. Looks like $RVX will be falling. Bad for TZA.
Bollinger Bands for $RUT: The large white candle for $RUT retraced the body of the long black candle last Friday. Looks like a topping process for $RUT is well underway. Good for TZA if really topping out here. MACD is getting ready to cross.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s white candle rose to sit in the congestion area again. The upper Bollinger Band seems to be falling. Looks like a topping process is well under way, which is good for TZA.
TZA had a higher high, lower low and much lower close – bad for TZA.
Money flow for the Total Stock Market was $657 million flowing out of the market on an up day. Seems backwards, but has now for 3 days.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks like TZA is in a bottoming process, rising and falling somewhat randomly. The next random move might be up.
$DJI monthly setup
max contain = 10,844.42
http://www.flickr.com/photos/47091634@N04/44565…
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1155 – 1170. I think a move to 1200 is underway. First upside target is 1175.
1147.75 -1163.25 actual yesterday (15.50 points)
1164.75 (last night's high)
1155-1170 estimate for today (15 points)
1163.50 currently, so estimate is -8.50 to +6.50 from here (neutral)
US Steel – X Monthly setup
teal line = 62.78
http://www.flickr.com/photos/47091634@N04/44564…
Chesapeake Energy – CHK Monthly Setup
rejected @ max contain ($27)
purple line = 17
http://www.flickr.com/photos/47091634@N04/44572…
Intel – INTC monthly setup
max contain on monthly = 22.30
http://www.flickr.com/photos/47091634@N04/44572…
Microsoft – MSFT monthly setup
short with monthly close below teal(26.68) & purple(27.98)
http://www.flickr.com/photos/47091634@N04/44572…
TZA has a lot going for it right now.
http://www.screencast.com/users/dreadwin/folder…
I went in to DRV because of the more attractive volume action.
The Daily view from Americanbulls
TNA has a BUY-IF (buy tomorrow if conditions are right) signal today. The candlestick today was a Long White Candlestick (strong buying pressure). The last two candlesticks formed a Bullish Piercing Line Pattern – a highly reliable bullish reversal pattern.
AmericanBulls has TNA up 0.04% since the sell yesterday.
TZA has a SELL-IF (sell tomorrow if conditions are right) signal today. The candlestick today was a Long Black Candlestick (strong selling pressure). The last two candlesticks formed a Bearish Dark Cloud Cover Pattern – a highly reliable bearish reversal pattern.
AmericanBulls has TZA down 0.28% since the buy yesterday.
Summary of $RUT based ETFs:
BUY-IF: IWM (1x), UWM (2x), TNA (3x)
SELL-IF: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: Possible buy of TNA, possible sell of TZA
ah – that's right. Yes, if we go higher from here, I'm out. If we make a slow up and down descent down, I can handle it. As long as we don't make new highs.
I am all cash again. Nice price right now for TZA.
Are you in TZA now? Nice Post I really do appreciate this daily update.
TZA opened up 2.1%. Gap was filled. TZA was up 2.8% at the high, and closed down 4.1%.
We are in a New Moon Trade, which favors TZA. After five days, this trade is down 4.6%, and owning TZA over night.
Volume for TZA was the highest of the last 28 days.
$RVX (VIX for $RUT) closed down 2.1% with TZA down 4.1%. No divergence.
TZA has now been down 3 of the last 7 days — a lot of chop.
The low for TZA today was $7.03. The low three days ago was $6.93 which is the lowest TZA price ever.
Ultimate Oscillator for TZA bottomed at 20 twenty one trading days ago and has generally risen since then but has remained below 50 and is currently 38. Indicating continued weakness for TZA. Yesterday was highest of the last 21 days, but a 4 point drop today broke the definite up trend. Bad for TZA.
Bollinger Bands for $RVX (VIX for $RUT): today’s long black candle touched the top Bollinger Band at the open (not touched for 6 weeks or so) and fell back into the congestion area and below the Bollinger mid-line (20 day MA). MACD has crossed from below and may be rising. Looks like $RVX will be falling. Bad for TZA.
Bollinger Bands for $RUT: The large white candle for $RUT retraced the body of the long black candle last Friday. Looks like a topping process for $RUT is well underway. Good for TZA if really topping out here. MACD is getting ready to cross.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s white candle rose to sit in the congestion area again. The upper Bollinger Band seems to be falling. Looks like a topping process is well under way, which is good for TZA.
TZA had a higher high, lower low and much lower close – bad for TZA.
Money flow for the Total Stock Market was $657 million flowing out of the market on an up day. Seems backwards, but has now for 3 days.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks like TZA is in a bottoming process, rising and falling somewhat randomly. The next random move might be up.