Financials / FAZ Position

I'll be taking up a position long FAZ (Bear Financials 3x leveraged) I'd think at some point today, the intraday 1 min signals is not where I'd want it to be, but considering the bigger picture, I might just pick it up and not worry about the perfect intraday signal/entry.

Here are 3 different ETFs, because of their volume being different they can all have different signals, but typically they will confirm each other if there's a trend between the 3 so I'll show you XLF (Financial Sector), FAS (Bull 3x long financials) and FAZ (Bear 3x short financials).  For confirmation, XLF and FAS should have negative signals and FAZ should have positive signals.


XLF-Financial Sector

 The 1 min intraday chart here is the best signal actually, from a leading positive intraday 1 min late yesterday to a leading negative right now

 3 min longer term trend, but also a leading negative signal

The 27th is the day (Thursday before the 4th of July week) in which negative signals first started showing up.

 XLF 5 min trend, nice and clean, a clear leading negative

The 4 hour (see FAZ 1-day as well) in line and right now because of where price is, the deepest leading negative signals it has had at least as far back as I can see on this chart.

This is why I'm choosing an equity position rather than an option, I believe there's enough evidence here to suggest a longer downside trend.

FAS 3x long Financials

 3 min from accumulation to a leading negative divergence.

 10 min from accumulation to the same, although the current leading negative is the worst of the lot, remember the concept I posted either yesterday or the day before about where a 3C divergence first starts and price on the reversal surpassing that area, the first deep divergence started right in the middle.

 FAS 15 min shows virtually the exact same signals, which is good confirmation within the same asset.

FAS 30 min in leading negative position, also showing earlier distribution.

FAZ 3x bear/short Financials

 3 min intraday is in leading positive position, this is confirmed by all of the averages as their 3 min charts were all leading negative position.

5 min

15 min trends, this would be the strongest divergence positive or negative on the chart.

This is the daily I mentioned above, just under support as almost all double bottoms (vice versa double tops as well) now do.  The point is a  daily divergence is quite strong to show up on a chart this long and this is leading positive from an earlier downtrend with good 3C confirmation.

I'll let you know if/when I enter, but it will be an equity long FAZ position