FAZ Update

If we stick with our basic short term (down), sub-intermediate term (up) and Primary trend (down) assumptions, FAZ (3x leveraged short Financials) seems to make pretty good sense, although being an ETF I wouldn't expect the Primary trend to be reflected on this kind of n instrument yet.

 FAZ 2 min leading positive divergence, even the negative divergence that preceded the turn down in price wasn't all that strong.

 FAZ 3 min trend with this chart also in a leading positive divergence that started shortly after the reversal to the downside from the last reaction high. There's also a large relative positive divergence in place.

 Like some of FAZ's long counterparts, it is showing the mirror opposite today as it should on the 5 min chart with a leading positive divergence.

 Here's a closer look at the leading positive divergence.

At the 15 min chart FAZ is just barely positive, this would seem to fall in line with trend assumptions, the shorter term trend looks pretty strong to the upside (market pullback for the short term trend) and isn't showing much on the longer term charts which would make sense when as the sub-intermediate trend continued (market upside).