BATS:TZA   DIREXION DAILY SMALL CAP BEAR 3X SHARES
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About 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.
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
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