TZA has been holding above 18.13 for 4 days now. Any comments ?
Market indicators for intermediate term (if I look at SPX, Russel)
have not turned to a sell signal yet however I am watching this one
closely. At 18.88 now it would be at a tight stop.
regarding TZA question, here's a daily and 30 min chart
The daily chart has a downtrend resistance line above
However see the 30 min chart, the downtrend line is above and
there is a gap, but to me it needs to get going soon, and could
turn into yet another bear flag if it turns down again, the MACD
has simply recycled back to zero and could easily turn back down
again, so be on the lookout
this is what I was referring to this morning with TZA and my
comments, some of you were asking about TZA, yes it could bottom,
but it could also turn into a bear flag and have another
breakdown and notice the MACD. watch those trendlines I drew
as well as the MACD. As we know the market has had a constant bid
underneath it, so it could continue grinding higher, eventually it
will pullback, but let it reverse first, and you need to see
an impulse 5 wave move to the downside even on a 5 min
time frame for SPX, RUT, Dow, we've only been getting ABC
corrective pullbacks.
TZA Low Risk entry ?
Posted by atlantis on 9th of Feb 2012 at 11:04 am
TZA
Hi everyone,
TZA has been holding above 18.13 for 4 days now. Any comments ? Market indicators for intermediate term (if I look at SPX, Russel) have not turned to a sell signal yet however I am watching this one closely. At 18.88 now it would be at a tight stop.
Atlantis
regarding TZA question, here's a
Posted by matt on 9th of Feb 2012 at 11:16 am
regarding TZA question, here's a daily and 30 min chart
The daily chart has a downtrend resistance line above
However see the 30 min chart, the downtrend line is above and there is a gap, but to me it needs to get going soon, and could turn into yet another bear flag if it turns down again, the MACD has simply recycled back to zero and could easily turn back down again, so be on the lookout
this is what I was
Posted by matt on 9th of Feb 2012 at 01:48 pm
this is what I was referring to this morning with TZA and my comments, some of you were asking about TZA, yes it could bottom, but it could also turn into a bear flag and have another breakdown and notice the MACD. watch those trendlines I drew as well as the MACD. As we know the market has had a constant bid underneath it, so it could continue grinding higher, eventually it will pullback, but let it reverse first, and you need to see an impulse 5 wave move to the downside even on a 5 min time frame for SPX, RUT, Dow, we've only been getting ABC corrective pullbacks.
R2K is looking like the 1st one to leave the party...
Posted by lessarda on 9th of Feb 2012 at 11:42 am
VIX the best performing index on the week
TZA
Posted by roger on 9th of Feb 2012 at 11:10 am
The 60 min MACD looks like its making a beeline for the 0 line and showing plus divergence to price. If price breaks thru 19 it could run. jmho