TZA 3x Bear Small Cap Support Idea

Short

Direxion Small Cap Bear 3X Shares (AMEX:TZA)

Updated

AMEX:TZA Direxion Small Cap Bear 3X Shares

supportandresistance trendline economiccycle

Super interesting spot here at support for TZA. Small caps have been melting faces, so interestingly TZA finds itself at support at the same time IWM is grinding up at resistance. Will the bulls keep pumping, or will the bears seize control?

Trade active:

So far so good. Picked up a small position as the market may be rolling over. Too soon to tell for sure

Comment:

Aging well. We'll see what tomorrow brings. This could just be a shakeout and not a change in market structure. Stay tuned

Comment:

This set up actually more valid today than when I first posted about it. Touching the support line now.

Trade active:

Picked up a sizable position as a hedge to my longs. Will swing into tomorrow.

Comment:

Perfect bounce off support. Up 2% today

Comment:

Moving again today on the 2024 dump.

Comment:

Another 5%. This hedge is crushing

Comment:

Slowly reducing position. Big win here, and don't want to get caught out when the market flips again.

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