Glad to know that all of my TZA charts are making a lasting impression. If TZA stops around here (7.06), and goes up, I'd say that that pattern has held.
TZA has less room to run up to the 20 day MA than many of the other 3x ETFs, so it isn't my preferred play at the moment.
Your timing is great. I don't think we have much more upside today and I don't think we close above last week's S&P high (3/17) as mentioned by Sundancer.
That is the nature of the beast with support and resistance. Reaching that point is onething. What happens there is another. Bouncing off a S/R or containment point is a reversal. Shooting through it, is a continuation of the existing trend. Just arriving at the S/R point, is only half the story.
The sky must be falling Dread back in the game. Good Luck!
long DRV at 8.70
Back in TZA at 7.11
I am not surprised. I said something to you about that on Friday. Nothing in this market surprises me any more.
Dreadwin,
I am a fan of your charts 🙂
Not a fan of TZA today though.
Glad to know that all of my TZA charts are making a lasting impression. If TZA stops around here (7.06), and goes up, I'd say that that pattern has held.
TZA has less room to run up to the 20 day MA than many of the other 3x ETFs, so it isn't my preferred play at the moment.
Will have to see. Too soon to tell yet. The potential is there.
Yes, very true.
Your timing is great. I don't think we have much more upside today and I don't think we close above last week's S&P high (3/17) as mentioned by Sundancer.
That is the nature of the beast with support and resistance. Reaching that point is onething. What happens there is another. Bouncing off a S/R or containment point is a reversal. Shooting through it, is a continuation of the existing trend. Just arriving at the S/R point, is only half the story.