EDZ / TZA

I was asked about these two so I figured why not post them.

 The bullish descending wedge-I already covered wedges' behavior, so this chart should be no surprise as it appears EDZ (3x leveraged short on Emerging Markets) appears to have transitioned from a solid downtrend to a lateral base.

 Recent action on the 15 min chart is encouraging, there's a strong leading positive divergence in place, however this ETF is going to act exactly the opposite of the market.

 Here on the 5 min chart we see the negative divergence sending it pulling back and the start of what looks to be a positive divergence.

 EDZ 2 min shows the negative divergence in to the pullback and a quite strong leading positive divergence forming, this is a form of confirmation as to what we are seeing in the broad market today.

 The 1 min chart is also leading positive.

 TZA is a 3X leveraged short on small cap stocks, think Russell 2000, we see the same wedge activity and basing.

 The 30 min chart shows good positive divergences.

 The 2 min chart shows the pullback and a leading positive divergence today.

The 1 min chart also shows a leading positive.

I take this as market confirmation.