Financials / FAZ Position Update

About a week ago FAZ (3x Financial Bear) was entered (long), since there have been updates on 10/22 and 10/23, the position is just in the green and I still like it.

Here's a view of XLF which is the Financial Industry as well as the 3x leveraged ETFs, FAZ and FAS (3x bear financials and 3x Bull Financials respectively). I also looked at the 2x leveraged UYG (long) and SKF (short) and found the same confirmation.

XLF-Financials

 1 min intraday

3 min intraday

5 min, more trend and a much more important timeframe.

XLF 15 min with a previous cycle (accumulation, mark up, distribution and decline).

 XLF 60 min with continuing deterioration with lower 3C highs at higher XLF prices.

FAZ 3x Financial bear- this should look almost the mirror opposite for confirmation.

 FAZ 3 min intraday leading positive, pretty sharp and very recent.

FAZ 10 min trend, note the strength pick up at the 18th.

FAZ 60 min is pretty self-explanatory.

FAS 3x long Financials, this should look similar to XLF for confirmation and opposite FAZ above.

 2 min intraday leading negative, I consider this to probably be connected to FAZ's 3 min leading positive.

FAS 3 min leading negative, similar to FAZ's 3 min leading positive.

FAS 15 min with accumulation for the cycle in to the low at 10/9 which is a theme we see everywhere and negative at the 18th, again a common theme. These themes are seen, but I've seen few that are so clean and consistent through varying and very different asset classes.

Longer term FAS 60 min, this shows previous cycles like the XLF 60 min, accumulation, mark up, distribution and decline, right now we'd be in distribution and borderline decline.

All in all, I still like FAZ long or SKF long or for less leverage XLF short or for more leverage, XLF calls, although I haven't checked on their liquidity.