BATS:TZA DIREXION DAILY SMALL CAP BEAR 3X SHARES
About to test the bottom of the descending wedge/broadening descending . Usually on a third touch of a things reverse. I believe that we will Break out of this downward sloping , and tag the . Which happens to be at the top of this . If for some unbelievable reason we fall through the floor on the IWM I put some reversal points on the chart.
From a momentum basis I believe the TZA bottomed out last friday. Price action show that there is a very high probability that it will reverse Monday or Tuesday at the latest. I am biased as i took a heavy position last Friday on the early morning gap down. I plan to double my position Monday. Alwin