More SignsToday and yesterday we formed 2 dojis, and that often indicates a trend reversal. As well $rifin is hitting up against a very solid declining trendline that goes back to the April high. This will be extremely difficult to break up though with any lasting rallies at this point in time. I notice that $rifin has not been able to break up through it's 200 day MA either whereas the S&P has done so (if briefly anyways). I take this as a sign of relative weakness in the banking sector, and a sign that $rifin should drop faster than the overall market. So risk/return continues to look excellent.
Everyone is now looking up and wondering how much higher we go. Surprise......
I'm continuing to do my analysis to establish some targets for FAZ and will post those and my reasoning soon.
SC