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Using Triple Levered ETFs to Spot a Bottom

Looking for a bottom? We may be seeing the formations of one. I always watch Direxion's Triple Levered ETFs for evidence of bottoms and tops, and things are starting to look that way. Let's look at a few cases:

Emerging Markets 3X Bear (NYSEARCA:EDZ): In August we bounced from $18 to nearly $30, but that selloff was much larger than this one and much more painful. That's why the blowout was so big. In September, the EDZ went from $23 to $35. Recently, we've bounced from $18 to $25. This indicates we're nearing a top in this ETF, although it's possible for one more up day. I think that would signal a bottom.

Technology 3X Bear (TYP): In August the main move was from $21 to $28, with an extended run from $18. In September, we jumped from $20 to $25. Now, we've gone from $15 to $19.50. I can't see this going much higher than $20, maybe $21 at most.