Day or week trading is a close in view. It really helps sometimes, especially when we are at a multi year moment to back out and look at the big picture. We breached the 1207.50 levels, retested, and failed again to confirm this move. The 50, 100, and 200 (and soon 365) MA are heading down together in a tight gap (actually none). The MACD says we have room to go lower, but not too much, and the RSI and Money flow say we are about done with the move. So I don't see the big crash, but who ever does. The long term trend support lines are definitely in play here, whether a day or a month, we go there. the question is how strong the move down? gap 1, or gap 2 gets filled. Riding TZA to get there. And then maybe TNA on a heck of a bounce. When the dippers come roaring back snatching bargains like they were dying of thirst, because year end staring the big boys in the face and have to get that yield baby, get that yield so their portfolios are fat and juicy for the Holidays (bonuses). If earnings cooperate a bit, the bounce could be historic. Until then, we trade daily, finger on the mouse button, and expect this chart to complete, but in case it ends premature to one of these major support trends lines, take "short" profit and exhale.
