Market view

As I am still on vacation , and back full time next week, I am not able to post charts.

I will try to make it short, yesterday we got another nice big plunge down in markets , with some real panic setting in. As I said before , as the MA(200) did not hold , markets could fall down fast - and I am still bearish. However I took some TNA position for a short term relief rally at 60.7$ yesterday and I am probably going to take them off on a rally to test underside of MA(200) at around 1285 near term.

Overall still holding my swing position in TZA 37.5$ as I dont think the LOW was in yet - I think we get a relief rally , but after that we should test the lows we just made and move lower.

I have a chart pattern target on TNA at 70$ so will probably sell the shares if they hit this level and then add some more TZA.

Overall the VIX daily chart telling me that a rally may occur soon as VIX is on daily sell signal , which is bullish for markets.

However , regarding to all the "bullish" signals I wont get too bullish as too much damage is done to get a new high - so just a relief rally to get things a bit overbought again before heading down more.

Have a nice day everyone and remember to follow me on twitter to get live updates.