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Busy BachNut checking in. Not much time to post lately.
NYMO breaking prior lows here. Needs to pull up by the close or looks like cycle turning down.
Price has been holding flat as a pancake. Guessing it will break one way or the other after this weekend.
Judging by the target stack, I can only say that the SPX is taking a gap year.
I don't think I have seen this many open gaps in play on a chart. It is a little hard to claim this is useful. Sorry.
Weird market driven by overnight trade instead of composite action of stocks during open session.
Given the lack of price discovery and the volume holes in these gaps, the next correction could manifest some spikey behavior.
We shall see.
I am short a little R2K, but may go flat into the weekend.
TF just closed the gap from the French vote two weeks ago and is on some support.
May bounce and then we'll see.
too bad, still don't know if this is just to test yesterday low and now sharp rebound to day high. cannot say this bear shall have legs.
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I do think there is something there. I have also done some work on when the market is trending the whole first hour in 1 direction it tends to reverse around 10:30am... especially when going down.... though I think yesterday was 10:55.... but it had that opening rally....
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te_fern wrote:Pasta Boss, is it time to look at TZA or is it too late??
IDK...........
In looking back at the short term charts, the entry point was probably a couple of days ago..... Thanks for the color!
5min tza
Elsewhere, ON THE DAILY (not shown here)
6th day down on IWM
now eyeing the 50dma
bulls don't appreciate that nonsense, they may soon step in and BTFD ?
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
te_fern wrote:Pasta Boss, is it time to look at TZA or is it too late??
IDK...........
In looking back at the short term charts, the entry point was probably a couple of days ago..... Thanks for the color!
5min tza
54five tza.png.png
Elsewhere, ON THE DAILY (not shown here)
6th day down on IWM
now eyeing the 50dma
bulls don't appreciate that nonsense, they may soon step in and BTFD ?
So I should probably day trade my TZA!! LOL! I put a tight stop on it!
Smalls bouncing off the Average Daily range lower bound. Unless it gets really ugly should be flat to up the rest of the day. ES did the same, but as Cobra pointed out they got a vacume lift back up. Smalls have to take stairs, didn't go nearly as well.