Short the Russell 2000 (TZA)?? Why I'm waiting...again LOL

Today, I entered a short position in the market (via long TZA) for a swing trade, but then later in the day I sold the TZA for a small profit. I exited, not for the profit, but because I didn't want to hold the swing. It was not "behaving", as I say, i.e. not acting as expected. I can always re-enter.  Some (but not all) of the reasons that I abandoned the trade are listed below (the bullish points below, obviously).


These notes refer to the Russell 2000, NOT to TZA.

Daily chart
- Yellow Downtrend line was broken higher on 11/3 (bullish)
- Green Uptrend line was broken lower on 11/12 and backtested on 11/13 (mildly bearish)
- Stochastic did not make a bearish cross down. Instead, it bounced higher and avoided the cross (bullish). See black oval.
- RSI remains below its DTL (bearish) but is pointed up...possibly challenging / testing that DTL (higher prices). See black oval.
_MACD histogram bars are confused (uncertainty, could be bearish or bullish, latest bullish).
- Possible Broadening Formation Developing (purple lines)

60 minute chart
- Bearish stochastic cross (See black oval).
- RSI remains below its DTL (bearish) but is pointed up...possibly challenging / testing that yellow DTL (higher prices). The purple arrows show 3 possible paths.
- MACD histogram bars are rising (green line). Will they go positive and form a peak (yellow) or turn down and form a lower peak (purple)?
- MACD is at -0.59 (bearish)
- Accelerated uptrend line (dashed green) was broken, and forced the channel lower (green line). This is bearish, slowing (descending) speed lines. There is a possible third line even lower (not shown to avoid clutter). The break of a third is very very bearish and signals a trend change confirmation. However, those lines are in the 60 minute not the daily, but nonetheless important.
- Coil (symmetrical triangle) is present (purple lines). This could break in either direction, generally in the direction of the preceding trend but not always. On Monday, this could breakout in either direction, OR we can get a narrow range body on Monday that stays within the coil and doesn't break in either direction until later.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".