Direxion Daily Emrg Mrkts Bear 3X Shares (EDZ) (EDZ)

[NickC]

FYI: I track 20 Country ETF's 17 out of the 20 are in a down trend and looking like they are going lower to me. The only 3 that have a glimmer of coming out of their down trend is Mexico, Canada and Taiwan! Italy, Spain and France are the worst of the bunch and a surely going lower in my eyes!
My thoughts:
We are in a bear market.
Global markets are not looking good (going lower)!
If you look at the daily chart for the S&P 500 the last five days were a pull back that was anemic (more sideways than a strong pullback) many indicators confirm getting weaker not stronger. Now everything is amplified in EDZ 3X because of the 3X... so its not for the faint of heart. I am still in and expect the down tread to continue next week.
Anyone else's thoughts on this?

Here is a graph of IVV (S&P500 ETF) on the top is Guppy M Moving Averages (GMMA) where you can clearly see the latest penetration of the trader group (red lines) far exceeds the penetration in mid July 2009. These short term investor are STARTING to gain confidence in the down trend depicted in the down trend of the red lines in the last month and red moving average lines are starting to spreading out. Long term investors represented by the the light blue averages are now changing their minds (that the long uptrend may have now ended) indicated by the bunching up of the light blue lines (moving averages) but still no consensus among these long term investors (consensus would be indicated by light blue lines trending down and lines spreading apart. the bottom of the chart is my custom design that looks at 10 countries and does short term analysis for each and then gives me how many out of ten have good or bad short term technicals at a glance. As you can see the last Histogram bar is red and at -7 noting that seven out of ten countries are showing bad short term technicals on their daily chart.
Q: Anyone have any additional Elliott Wave analysis?