Both are negatively correlated. MACD on chart is rolling over on chart. TZA -The investment seeks daily investment results before fees and expenses of 300% of the inverse (or opposite) of the performance of the Russell 2000 Index. Noted yellow triangle, is bearish trend line.
You can wait for close in triangle area to confirm bearish trend in broken. I expect TZA will go to $17.50, which would be a $1.20 move up- from $16.20.
ETF Risk: is high, related to its major bearish trend (look at higher time frames).
RUSSELL 2000 INDEX (FYI) The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe and is comprised of the smallest 2000 companies in the Russell 3000 Index, representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership.