Peter Worden's Blog

With SPY looking tired, it is logical that SRS may move higher from here. This 15-min chart shows a base of several days now in place and strengthening technical indicators, i.e. TSV and MACD. Price moved back above its 50-bar moving average (orange line) early this morning and has held above it for the entire session.

TSV really turned positive yesterday and has continued to hold pretty much above the zero-line. MACD turned positive several days ago and remains short-term bullish.

SRS is an UltraShort Exchange Traded Fund (ETF), which may offer a great vehicle to trade declines in the real estate sector.

It appears SRS has rounded out a trading bottom on this 2-hour chart. Both price and the 20-hour moving average are back above the 50-hour moving average. My front weighted TSV shows a series of positive divergences at the lows going back to December 8. As you can see, TSV has also made a series of higher highs culminating with a decisive move back up through the zero-line in recent days.