At times, TNA is relatively strong or weak compared to how SPY moves. Right now, TNA seems to be in lockstep with the market. The SPY will be a clue as to how TNA moves.
SPY moving up and TNA side by side; $39.30
I expect as SPY gets up to 156.70, the wave of traders who got long the market at 2:45 pm yesterday will begin selling, further dampening any move up. We'll see how TNA responds. TNA has already risen to that corresponding resistance area at the open and experienced the selling at that level.
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