That ‘run’ in TZA is exactly THE reason, or at least the first part, as to why I shared this short trade idea on IWM (or TZA long). That “quite the run”, run was the impulsive leg down, i.e.- the “flagpole” of the bear flag pattern which consists of 3 parts (in this order): The flagpole, followed by a period of consolidation that takes the form of a flag, then followed by another impulsive leg down that typically mirrors the flagpole in scope & intensity. IWM closed the day a hair below the flag so if it gaps down or continues to fall in the regular session tmrw, then we will have the sell signal.