If they can only push it to 1104ish tomorrow and the volume is VERY light then I think we head down soon. Anything moving up to 1115 and I think we might rip higher.
One more thing. The 50 day MA for $RUT will be very close to but not identical to IWM's, and the market pays more attention to IWM than /TF. Use IWM as the indicator to time a bounce in TNA.
Watch for bounces on the 50 day MA and 20 day MA on $RUT. Assume that the 50 day MA will play support for the first bounce. Buy TNA for a scalp at the bounce point. Should be good for an easy 3% day trade in TNA.
From that chart, last week friday had a pretty good (but not ideal) entry point for TZA.
Keep in mind that the January 24th-25th (or so) $RUT buy signal has not been invalidated … yet. We need to see $RUT:$RVX close outside the upper bb, then close inside the upper bb the next day for a new signal.
$RUT could also consolidate sideways to work off the overbought condition and play out some kind of crazy triangle or flat. I'm not expecting big price movements in $RUT for the next few days, but the market can always make me look dumb 🙂
The last three candlesticks formed a Bullish Morning Star Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
It then goes on to describe in detail how to confirm the trend change (to buying TZA) based on what happens tomorrow.
As long as we don't rest the high, I think we will sell off next week. But for now, you're right… no man's land.
No man's land here.
If they can only push it to 1104ish tomorrow and the volume is VERY light then I think we head down soon.
Anything moving up to 1115 and I think we might rip higher.
Hi Dread, Trading any lately. I am just holding on to what I have at the moment.
One more thing. The 50 day MA for $RUT will be very close to but not identical to IWM's, and the market pays more attention to IWM than /TF. Use IWM as the indicator to time a bounce in TNA.
Watch for bounces on the 50 day MA and 20 day MA on $RUT. Assume that the 50 day MA will play support for the first bounce. Buy TNA for a scalp at the bounce point. Should be good for an easy 3% day trade in TNA.
From that chart, last week friday had a pretty good (but not ideal) entry point for TZA.
Keep in mind that the January 24th-25th (or so) $RUT buy signal has not been invalidated … yet. We need to see $RUT:$RVX close outside the upper bb, then close inside the upper bb the next day for a new signal.
$RUT could also consolidate sideways to work off the overbought condition and play out some kind of crazy triangle or flat. I'm not expecting big price movements in $RUT for the next few days, but the market can always make me look dumb 🙂
http://www.americanbulls.com has an interesting view of TZA:
The last three candlesticks formed a Bullish Morning Star Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
It then goes on to describe in detail how to confirm the trend change (to buying TZA) based on what happens tomorrow.
How do you read this?
I don't normally watch this. I pulled it up (your link didn't work, but I looked at $RUT:$RVX), and decided I didn't know what it meant.
Dreadwin!! Where are you?
use RUT:RVX's BB seems to give a better entry point? I got this from dreadwin
http://stockcharts.com/h-sc/ui?s=%24RUT:%24RVX&…