TZA makes the picture a little more clearRotation our of high growth wild PE small cap into realistic valued big cap, but maybe also.... ETFs. With all the "head faking" going on in individual stocks, this uptrend clear channel for TZA with MACD and RSI right on the mark, makes me want to trust this more than anything right now. Well defined channel with a rising trend, and better volumes. Could this be the indicator of why the bulls with lower volumes can't push through these tops? Every time they try, TZA grows in volume.
TZA trade ideas
TZAAbout to test the bottom of the descending wedge/broadening descending wedge. Usually on a third touch of a broadening wedge things reverse. I believe that we will Break out of this downward sloping wedge, and tag the 1.618 extension. Which happens to be at the top of this bearish channel. If for some unbelievable reason we fall through the floor on the IWM I put some reversal points on the chart.