Deep Market Thoughts – Bear Hope, TZA, IBM

Not much to say before the Fed meets tomorrow.  The rate decision and corresponding verbiage will probably produce the usual romper room moves after the announcement.

One hint the winds may be starting to favor the bears today, or bulls searching for a pullback, was a higher low pivot on the 60-minute chart.  Three drives down in TZA produced some support near 31.

Big picture weekly is clean for TZA and an NR7 pattern.

Yet again today, the bull side was easier if you’re a dip buyer.  IBM to 110?