The 4 minute chart TZA red EMA broke down below the green MA in the 11:26AM period. The TSI & Demarker both peaked in the 11:34AM period.The CCI dropped below 100 in the 11:38AM period. The Awesome Oscillator flashed a Twin Peaks signal during the 11:42AM period triggering a TNA buy. This was confirmed by the CCI dropping below -100 and the DEMA crossing down during the 12:02PM period. The Klinger Histogram showed nice readings (below -500,000), but the move was not enough to get the CSI to rise. A TNA sell was signaled in the 12:10PM period, when the CCI crossed up above -200 and the Demarker bottomed.
One approach to the current TZA rally is to look for intraday TNA buy signals to at least take TZA profits and then buy TZA back at a lower price. TZA is then held overnite since there is often a nice bounce at the open. Elliot wave analysts (see: thechartpatterntrader.com) suggest an ultimate TNA pseudo-rally followed by an even sharper TZA rally (i.e. stock market fall).
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