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TNA

$IWM – Bull Flag Breaking Out?Hooray for small caps! It is looking to me like AMEX:IWM (Russell 2000 small cap ETF) is ready to participate in the newest market rally. This is great news as it shows the market is broadening with more participation. I do not have a position yet, but I am looking to start one if this keeps showing strength. I may even use the 3x levered AMEX:TNA as a booster. (Cannot hold levered ETFs too long as they are geared for day trades). Ideas, not investing / trading advice. You can see I have outlined the Bull Flag as well as important moving averages. On the lower part of the chart, you can see the Volume has picked up, the MACD is rising and the indicator at the bottom shows market new highs new lows (new highs are green days). I hope this helps someone. Thanks for looking. Constructive comments always welcome.
AMEX:IWMLong
by jaxdog
XLF Triple Bottom Support for SPY Bulls, QQQ Daily Bull Flag, - XLF holding triple bottom support 15m, holding above yeseterdays low bounce off of it 3 times today, first initial sign for the bulls. Now bulls need the hourly trend change for XLF back to an uptrend to help SPY - QQQ's drop may seem a lot today due to how fast we pulled back from the morning but we are still way above 0.386 fib retracement on daily therefore QQQ is still in a bull flag zone. - if XLF starts bouncing and changing trends i am likely going to swing some short term bull positions in the leverage 3x SPXL TQQQ TNA
NASDAQ:QQQLong
by ArcadiaTrading
LOADING UP ON TNA TNA which is the Direxion Daily S&P Small Cap 3x leveraged is an ETF that I just came across. I usually trade TQQQ and SPXL while carrying a small position overnight in order to mitigate my risk from daily rebalancing of the leverage ETFs. TNA has run up under 980% since the COVID - 19 sell off and is approximately 40% above its pre - pandemic high. I have heard that small cap stocks will lead the charge up or down before there's a market turn in the S&P 500. I'm looking at two entry points for this ETF. My first entry point will be at $89.92 and my second position will at $71.32. Due to TNA being a leveraged ETF the goal is to take a small position relative to my account and potential day trade the TZA (the inverse) or TNA with a larger position. I am very bullish on the market and I am loving the pullback that we are experiencing. Based on past analysis, TNA hit a resistance and then pulled back towards a support at $71.32 before breaking through its resistance - and now support - at $89.92 creating a new resistance. The sell off from the resistance at $104.14 looks healthy but I am looking for a bounce off of $89.92 here. TNA is holding its 15 and 50 day EMA strongly after breaking below its 5 day EMA. I will cut my position and turn bearish on TNA if we break below the 50 day EMA. This is the first post that I have made and I am looking to create more whether my analysis is correct or wrong. Thank you in advance for any feedback that readers provide me with as I am looking to do this full time!
AMEX:TNA
by madisonsoun97
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