Sorry for the missing update on Friday - had no time to post.
Overall - the markets did quite much as expected and drawn in the charts - a bounce to 1295 area (Backtest) and then heavy down again Friday to new lows !
What a sweet action to see - just an oversold bounce before dripping further. TZA is getting near to my 45 target which is 42 right now and holding all shares from 34.5. I am going to begin to take profits as soon we move a bit higher early next week in the shorts where I think markets will drop further with a stronger dollar.
ZSL did also very well and ended up 8% and still holding all from 16.6 - hope with a stronger USD then the silver and overall markets would plunge further.
Overall called the dollar reversal and dollar to rally - and I think it just begun. The chart I will show you is a clear backtest of broken trendline and then a big rally is to be expected. That would really hurt silver and metals + stock markets going forward.
This upcomming week I am looking for the real flush down in markets - a fast one but ugly which should take us probably 1250 SPX or below. I'm going to take the profits in TZA sometimes early next week as I am up near 30% already on heavy position here so gotta lock in some as we are getting close to my target + I think a possible bottom is getting close...
So overall - next week looking for a fast plunge down early - I really dont know if we will see 1250 or the MA(200) as everyone thinks or we fake most and plunge a bit further to 1240 or 1230 ? I will see and when I get a sell signal on daily chart TZA and buy signal on TNA I am going to load size position in TNA , but not until I see some weakness and I think we will see 1250 next week with the position dollar is in... dollar looks to me like its about to run hard.... which is bad for markets.
Have a great weekend everyone and enjoy !
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