T1: As it turned out, I also have TZA positions. I had a straddle trade set up with GTC orders at both sides. My Larger TNA position closed, but I still have some TNA contracts to sell in the AM.
However, all of that last 1/2 hour threw out a number of questions. DO I buy back my TNA position? Looking at the RRC and a number of other indicators, that may it may be the case. The monthly charts below, of the S&P 500 index gives a clearer picture.
Although the Nasdaq is advancing strongly, the S&P 500 is stuck below its long-term trendline. Note the similarity to July-Aug of this year and March-May 2008 rally.
Breakout above 1250 would be a bullish sign, similar to the May 2008 breakout above 1400, but retreat below the former resistance level (1250) would give a strong bear warning.
Looking at a simple weekly chart and Collin Twiggs Monthly Below:
And here is Snoots Daily 30min chart, which I hope he doesn't mind me posting here, shows a STO oscillation and trend line that says we may go higher Wednesday.
Also watching the dollar's moves. That is also a critical factor, as it drives the market prices, as well as commodities. It was supposed to correct to $76.00. However, it only corrected to $76.60. So we may be seeing the market rise inverse to it completing its re-test completion.
EUR/USD 1.37331-1.37349 seems like a pivot point area.
Trend1, I know I stray outside the channel, and today was an example as to why, but your RRC's are a primary guide for most of my trades as you know.
News 
Market Data 
Discover 
