TMF Bull Treasuries Triple Leveraged LONG
Updated
TMF as shown on a 15 minute chart shows TMF in consolidation at the beginning of the weeks
followed by a downtrend when the fed news of the rate hike came out. Today the general
market dropped after some federal financial data came out and a treasury auction was a dud
with little buyers confounded by Bank of Japan actions inconsistent with the path of the US Fed.
The mass index indicator has signaled a reversal as the signal rose above the reversal zone
and then dropped below the zone thus triggering. The Relative Trend Index documents
the end of the downtrend with the signal line nearly returning above zero. Overall, I think
this leveraged ETF overreacted to the federal news and the catalyst from Japan. I believe
this to be an good point to enter long using the pivot low as the stop loss. Targets are 7.20
just below the mean anchored VWAP and 7.45 just below the lower boundary of the high
volume area of the intermediate term volume profile. This offers modest potential profile
for a relatively low risk.
followed by a downtrend when the fed news of the rate hike came out. Today the general
market dropped after some federal financial data came out and a treasury auction was a dud
with little buyers confounded by Bank of Japan actions inconsistent with the path of the US Fed.
The mass index indicator has signaled a reversal as the signal rose above the reversal zone
and then dropped below the zone thus triggering. The Relative Trend Index documents
the end of the downtrend with the signal line nearly returning above zero. Overall, I think
this leveraged ETF overreacted to the federal news and the catalyst from Japan. I believe
this to be an good point to enter long using the pivot low as the stop loss. Targets are 7.20
just below the mean anchored VWAP and 7.45 just below the lower boundary of the high
volume area of the intermediate term volume profile. This offers modest potential profile
for a relatively low risk.
Trade active
Price up 1% still full risk stop loss unchanged- Carrying the full position into next week which likely will be sedate and orderly compared with the past one.
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