ETFs, Leveraged ETFs, Sector Funds

[stiv]

Yes that little uptick on the 30-min is interesting, but you have to play it out on the 30-min which may not amount to much unless it picks up momentum on the longer time frames. Looks like there is a PMO cross over with that action at the end of day. Could be false hope, head fake, whatever. (BTW, I have a theory of 3.5's...that the gains happen in 3.5% increments coming off a bottom like that. Very strange but I see a lot of this type of pattern top out at 3.5, 7 and 10% gains. That's just me)

Multiple time frames are intriguing to me. The contrarian in me also says that everyone is in or getting in on DGAZ which also suggests being closer to an intermediate bottom. I have screens set up on Stock Charts based on the RSI(14) and crossover of the MA(20) of the RSI(14). Coming up out of oversold conditions (less than 30 to above 30) is one of the early turns I look for. These steep drops can keep the RSI or any indicator stuck in oversold territory like a worm on a hook bouncing along on the bottom of a lake. But eventually it has to come up out of oversold.