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.
regarding TZA question, here's a
TZA Low Risk entry ?
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