Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

TZA 10-Minute Chart Analysis

|Includes:Direxion Daily Small Cap Bear 3x Shares ETF (TZA)

The ten-minute chart of the Direxion Russell 2000 Bearish 3X ETF (NYSEARCA:TZA) below shows the immediate situation.

TZA 10-Minute Chart

Chart by TeleChart

If/when the TZA breaks through the previous session high of 15.00, (and does not reverse) we will have confirmation that a down-trend is resuming in the iShares Russell 2000 ETF (NYSEARCA:IWM).

As stated in previous updates, with seemingly everything at extremes, this may be the beginning of an opportunity to capture a significant move lower in the IWM via the TZA.

Disclosure: The author is long TZA.

Stocks: TZA