TECS, Technology BEAR EFT, is showing strong buying pressure in the face of recent price weakness.
"On Balance Volume" created by Joe Granville, is showing accumulation, large buying coming into TECS, even as price declines ( As Shown )
That is called a bullish divergence, which offers the trader the opportunity to own TECS, Technology Bear ETF while benefiting from lower cost entry point.
I started buying TECS last fall,around 20, and was rewarded at the time, by the bursting of the Fang Stock Bubble, in the Nasdaq 100.
An absorption decline has brought TECS back to a level, where buyers feel the need to come back in,even in the face of declining price.
That is is Bullish Buy Setup,.
Any further decline in TECS towards 25,should be viewed as a buying opportunity, to short the "Hyperwave" crash stocks known as Fang , Amazon, Apple, Google, Facebook, and Netflix.
Earnings disappointments in Q1, 2019, and the markets reaction is the bet here. Thanks to LucyF 2492 for the inspiration in revisiting this ETF in 2019.