Red

It could go to 105 but most definitely 106 in the coming 2-3 weeks. IMO we will see.

I also think we have more upside left this week.

I would feel a lot more confident about TZA going up if the RSI on $RUT would have hit 70 recently. It hasn't done that (yet). We could still tag the lower BB on $RVX at 22ish before we're done with upside buying pressure.

Late data from http://www.americanbull.com (Late because I don't subscribe, and what's free is late)

Roughly translated into something I can understand:

Didn't get confirmation today (for a TZA buy). So, we look for the same confirmation tomorrow.

Basically, we need a white TZA candle tomorrow. It's ok to buy TZA during the market day if it seems likely that the day will end with a white candle.

No idea how to manage a blog, and happy being here, so long as Red is ok with all this TNA/TZA stuff 🙂

My looks have a horrible track record. Horrible. You probably need to stay up 🙂

That makes sense then.

He did seem to like the market recovery after the last two bits of bad news.

Hard to fault his thinking.

Hey Red, I hear what you're saying about volume, but my take on the weak volume is that the lack of participation spells weakness. Also, the EW pattern today seemed much more corrective in nature, so one would suspect a turn down is imminent – http://willowtreetrading.blogspot.com/

Thanks Earl of. Perhaps you should have a TZA/TNA blog! This is the first time you have said that you think TZA might be up so finally I can sleep tonight!

Thanks for the recap. I did not place any trades today.

interesting. Thank you! Maybe we will open there and move higher.