Been collecting FAZ, avg currently 4.97, will avg down on Monday IF it's still in the 4.7 or lower. Target: over 6
Here is a chart for XLF, which will give us an idea on how FAZ will perform.
you can clearly see the 200MA is a HUGE resist line from Jun 5 to 12. It's failure to breach it caused it to tank to 11.50 - 11.30 resist line.
Although it rallied the last 4 trading days, all it did is to form a bearish flag towards the 200MA.
On monday 200MA will be 11.97, we can expect XLF not to see >= 12 close again for some time as it spiral downwards.
Now, it might follow along the 200MA for a while before a serious tank, it all depends on how the market will perform.
My ideal scenario will be the financial leading the market DOWN.
if FAZ happen to rally above 200MA with good volume, i'm switching to FAS.
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