BLIP DETECTION & THE DAILY TZA CHART

TZA was dropping on 7/23 & 7/26 (confirmed by a crossing down of the red EMA line through the green MA line & a decline of the CCI below -100). A prior day ABSOLUTE DIFFERENCE between the TNA & TZA Formula 2 equations BLIP was detected on 7/27 (green arrow) signalling a reversal. TZA went up for the next three days. The next MAJOR BLIP detected was on Thursday August 12th (red arrow). TZA had a steep 3 day decline starting on Monday August 16th. A BLIP was subsequently detected on Wednesday August 18th. TZA positions were established. No blips were detected on Thursday and Friday. TZA went up on Thursday and went up Friday morning by over 4%, but closed flat for the day. TZA positions are being held over the weekend.

Daily Kagi, Renko & 3 Line Break All Signalling TZA

Daily Kagi, Renko & 3 Line Break All Signalling TZA
Lesser-Antillean-Bullfinch: Male, seen roadside at Grand Cas Beach Club, St Martin Island 10/08

Holding TZA overnight

Yesterday's detection of Tuesday's blip to 9743 in the Absolute TNA & TZA F2 (Formula 2) Diff suggested that the uptrend was reversing. This was confirmed by today's down day. No new blip was detected today, so TZA is being held overnite.

FORMULA 2 MUSINGS

Revised Indicator Formula. Does absolute difference (green line) pick up reversals?

Uptrend Should Continue

No reversal of TNA Indicator Product values.

Not Everyone is Bearish

A quote from today's New York Times: “Stocks look cheap,” said Jeff Saut, the chief investment strategist at Raymond James & Associates in St. Petersburg, Fla. “Earnings look really good. The consumer is in better shape than the headlines would suggest. Corporations are flush with cash, and it’s cheaper to buy assets than to build them. There’s not a whole lot of downside for stocks. We may challenge the highs for the year.”
Hey, maybe he thinks the bridge is cheap too...(view of Brooklyn Bridge was from the World Trade Center Observatory)

Pseudo-rally Continues

Bottom chart is this weeks action...