I know most people who participate in these markets do not understand, nor do they believe in charting. I for one believe this entire market collapse and subsequent rally over the past month has been purely technical. Primarily i base this hypothesis on the fact that markets simply do not drop 30% straight down without a technical bounce to unwind the oscillators and get things somewhat trending again. A good example of this is a Daily FAZ chart where the lower Stoch is completely oversold.. If you look at the volume spike on the April 2, that was not enough to unwind the stoch at these level, but it does tell of major interest in FAZ.. Major interest in FAZ and or SKF is bearish financials obviously, but it shows most traders are looking for a pivot play. This chart should help everyonevisualize the oscillations of levered ETFS.