themarketzone

$FAS below 103 means bad news for financials

AMEX:FAS   DIREXION DAILY FINANCIAL BULL 3X SHARES
The daily AB=CD pattern started working last week with a nice reversal in the PRZ.
The stock is trading inside a small descending Triangle and we see sellers pressure pushing the price lower and lower inside the tight range.
Break of the Triangle will probably lead to the support zone (structure and trend line).
It will be a buying opportunity for the bulls among you.. I'm more interested in what goes on below 103.
Multiple bearish signs in the weekly and the daily chart . Monitor closely.

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