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Paul Mosgovoy
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My company:
Three Ten Trading, LLC
My book:
Market Masters: Livermore, Wyckoff and Loeb
  • TZA 10-Minute Chart Analysis 0 comments
    Jun 26, 2014 10:22 AM | about stocks: TZA

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

    (click to enlarge)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.

    Themes: Small Cap, IWM Stocks: TZA
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