[FAZ] update

While not much has changed from the backlink I think it is important to note that FAZ has not been falling while $COMPX has been rising higher on the AAPL show.  I view this as bearish non-confirmation between tech and banking.  While the UVXY model leaves some interpretation open about the current wave being a 3rd or a 5th, FAZ seems more clear.  FAZ will need to clear $12.80 to confirm a breakout so we still have to use stops but the stops picture here is nice.  You buy at 12.23 and then stop out at 12.08.  Very little risk there with big time upside potential.  Even just a move back up to the prior 4th (blue 4) would be 25%.

This is the perfect technical setup folks.  I cannot guarantee that it will go higher from here but I do know that if you use stops as I suggest that you will lose very little and then have a chance to buy in even lower.  When the credit begins to deteriorate, something that will certainly occur when higher interest rates unfold, FAZ is going to be a big winner.