TZA - has it found a floor..and ready to leap?

TZA - Direxion ETF, representing the Rus'2000 small cap. It looks like its still able to comfortably hold the floor from late March/early July.


TZA, daily

Summary

First target is a clear break out of the current declining channel, >$19

Secondary target, a new short term high >$24.50
--

Bears trading this ETF can put in a simple short-stop at the recent low, around the $16.50 area.
-
*As ever, statistical decay is a problem with the 3x leveraged ETFs.