TNA should move down by 15 to 20% to $30-$32 region.
IWM makes big moves down when energy sector moves down. Dollar has corrected, but oil hasn’t. Look for IWM to make a big move down the day oil corrects.
In the most recent break out, XLF has left two enticing gaps – one around $12.6 mark, and the other one around $13 mark. Aug 7th candle looks somewhat like a reversal candle.
$13 also marked the swing top in May. And $12.6 acted as a solid resistance for most of May, June and July. Any down move should take XLF down to $13 region pretty quickly. I will not be too greedy trying to wait for XLF to fill the $12.6 mark. If I am short, I will cover around XLF $13 mark. 10% haircut should move FAZ up to $33-$35, SKF to $33 and FAS down to $60.
The oscillators and BB on XLF look exactly same as those on the IYR charts in the posting on IYR. As always, any love shared is appreciated.
Of late, IYR seems to have gone parabolic. We all know how such parabolic moves end. Once the reversal happens, the down move that happens is faster than the parabolic move up. IYR broke out at $35 mark and should head there in a hurry.
I am no longer trying to play this by going long SRS. With the big moves up in bullish leveraged ETFs, I am going to play this and other downside moves by shorting the leveraged bullish ETFs, which in this case is URE.
A move down to $35 region should take SRS to $15 – $15.50, and URE down to $4 region. It is not uncommon for IYR to make moves of 8 to 10% to the downside in a single day. As always, any love shared is appreciated.
DISCLAIMER: I own position in AAPL which is in significant loss, which could alter the way I think where AAPL is headed.
EDIT: I had mistakenly said that AAPL will gap down below $140. Someone in the comments pointed this out asking how and why did I think so. I meant to say $141. I have added a 20day chart of AAPL that shows that $140.5 – $141.5 is a key level for AAPL. My thesis is a big gap down on Monday, which requires AAPL should open below this key level (AAPL being a big component of NQ).
DISCLAIMER: Nothing contained anywhere on this site constitutes any investing advice or recommendation. Any purchases or sales of securities are solely at the discretion of the reader.
Folks if you find something useful, do share some love (look up) 
Here are a bunch of charts with some annotation which should be self-explanatory. Some love shared right at the top of this page will be greatly appreciated
FCX has taken a pounding in last 10 days, coming down from $60+ to $45 – a 25% haircut. $45 is a key support region for it. I am looking for an oversold bounce to $50-$52 region before shorting it again.
FCX has been channeling in a nice uptrending channel, which it breached to the downside few days back. I expect a retest of the underside of the channel which also coincides with the target zone of $50-$52.
Another one that is very oversold and should sport a nice oversold bounce. $40 is a good strong support and should hold. $49 is the resistance up above. $6 upside potential and $3 downside potential from where I entered ($43 mark).
