Friday Aug 22, 2014 6:10 AM
We have been warning about the end of rally for the last two days. Even though NASDAQ, SPY , SPX , QQQ, made new highs, RUssell 2000, DJT and DJI failed to make new highs. So start of a decline should happen soon even though we do not have a SELL signal yet. We will get a SELL signal after the indices go below Monday's lows.
News related rallies will not last long.
GOLD gave a SELL signal yesterday after going below 1280. Any rally now should be used to establish short positions.
DJI
SPY
IWM
TNA After making a high on Tuesday, TNA has been going down with a minor rally yesterday. It should continue the decline today.
GLD giving Sell signal
GDX
NUGT
DUST Giving a BUY signal
SLV Gave a SELL signal on July 21
We have been warning about the end of rally for the last two days. Even though NASDAQ, SPY , SPX , QQQ, made new highs, RUssell 2000, DJT and DJI failed to make new highs. So start of a decline should happen soon even though we do not have a SELL signal yet. We will get a SELL signal after the indices go below Monday's lows.
News related rallies will not last long.
GOLD gave a SELL signal yesterday after going below 1280. Any rally now should be used to establish short positions.
Update on Aug 25
Intermune Technologies which is one of the top 10 holdings of TNA, is being acquired by Roche for $75 -a 38% premium Today Aug 25. This is why TNA is going up by more than 2.4% today. This is negative for TZA. There is no SELL signal on TNA or BUY on TZA
Intermune Technologies which is one of the top 10 holdings of TNA, is being acquired by Roche for $75 -a 38% premium Today Aug 25. This is why TNA is going up by more than 2.4% today. This is negative for TZA. There is no SELL signal on TNA or BUY on TZA
DJI
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