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.
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this is what I was
TZA Low Risk entry ?
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.