Daily TZA

Weekly TZA

Weekly TZA consolidating at base of Ichimoku Cloud. Blue MA=Red MA. MACD Histogram & Aroon Oscillator both still positive. TZA trending up by Wilder's ADX (>20) on candlevolume chart. Weekly equivolume backtesting above 30 week MA. Weekly Kagi, 3LB & Renko all remain bullish for TZA. Weekly P&F remains bullish for TZA with a 143 target (~300% projected rise).

Daily TZA

The TZA P&F has a High Pole Warning. From stockcharts site: "The high pole warning is given when a chart rises above a previous high by at least 3 boxes but then reverses to give back at least 50 percent of the rise. The reversal implies that the demand that was making the prices rise has given way to supply pressure. The pattern is a warning that lower prices could be seen in the future." TZA remains above Ichimoku cloud but has red Elder bar. Blue MA>Red MA which is bullish for TZA. Short MACD and falling positive Aroon Oscillator look consolidative. TZA remains in Stage 2 on equivolume chart...however it is currently consolidating by CCI (absolute<100) and Aroon (declining parallel lines). Looks like a 4th wave. Daily 3LB & Kagi remain bullish for TZA (not pictured). Renko has now gone bullish for TZA.

Weekly TZA

Kagi, 3LB & Renko all bullish for TZA. Price is trading above 30 week MA and much of the volume by price resistance. Green Elders have yet to penetrate Ichimoku Cloud, but blue MA=red MA, and the MACD Histogram & Aroon Oscillator are both positive. Equivolume chart rising on nice volume in association with a CCI>100 and a Bullish Aroon. Chaikin Money Flow went positive. Price trading above SAR and running up at top end of Keltner Channel.

Daily TZA

Daily TZA

Equivolume chart reveals a backtest of the upper EMA Envelope. Only daily Renko went against TZA. TZA trading above Ichi cloud with blue consolidative Elder Bars consistent with wave iv.

Weekly TZA

Weekly TZA

TZA breaks through the 30 week MA on monster volume on the equivolume chart to start Weinstein Stage 2. CCI breaks out of consolidation (>100) and Aroon goes bullish for TZA. Could buy TZA on pullback. The Ichi chart had a Trend Up Confirmation since this week's large green Elder Bar opened up above the high of the pullback low red bar that occurred during the 1st week of July. The blue MA=Red MA, the MACD Histogram is positive and so is the Aroon Oscillator. Perhaps TZA will pullback off the underside of the cloud and then pierce the cloud to the upside. TZA may "want" to accomplish this in a relatively rapid fashion since the cloud will become wider over time (i.e. more resistance).