For FAZ longs-Yesterday's trade / UVXY

FAZ long yesterday for a quick trade today was the right choice, unfortunately I don't have time to watch a single stock as I'm generally looking at hundreds and 6 or 7 different timeframes for most of them.

For the FAZ longs that entered yesterday for the "Quick" rotational trade as we suspected Financials would rotate out today, be careful in this area, FAZ is giving signs that momentum is fading and remember that this was always meant to be a quick trade.

 FAZ 1 min intraday is showing pretty good confirmation here.

 It's the 2 min that still hasn't moved the entire day toward confirmation and it looks like the ROC in price is starting to fade-WATCH OUT FOR FLAT RANGES, that's where distribution will be the strongest.

 The 3 and 5 min charts above and below are not confirming either so I still think this is best considered a short term trade and take what the market gives.

FAZ 5 min

As for URTY longs out there, I don't need to post the charts because I can tell you they are all in line with price, the one thing I don't like is the parabolic nature of price today, it usually doesn't last or end well.

I still have a position there for a longer term trade that I'll keep open for now, but in UVXY's case, it will trade opposite the market so keep an eye on market updates. It is probable that UVXY will have a sharper reversal intraday than FAZ because of the parabolic move up so probably more "U" shaped or in this case, "n" shaped.