TMF

Direxion Daily 20-Yr Treasury Bull 3x Shrs

NYSE Arca · ETF

28.04

+0.04 (+0.14%)

Close, Oct 16, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureLower highs, lower lowsIntermediate-degree swings on the daily chart.

WaveConstructiveZigzag complete, next move up (Pattern Confidence 70); the weekly count points the other way.

FibonacciZone aboveNearest confluence 28.78–29.12 (3 relationships), +3.2% from the close.

MomentumWeak3 months −14.1% (behind SPY by 17.0 points); 6 months −23.6%.

RegimeDowntrend−3.5% vs the 50-day average, −18.1% vs the 200-day.

RiskNormal20-day volatility 34% vs 28% over the year; 1-year drawdown −42.9%; beta 0.68.

TMF setup history6 resolved: 1 reached target first

Current structure

Price, swings and the preferred count on the chart

TMF · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing low, 24.52 on Oct 7, 2026. 200 labelings tested, 120 broke a hard rule, 12+ remain.

Hard-rule evidence: why 120 labelings were eliminated

51Wave 2 always retraces less than 100% of wave 1
19Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
15Wave 4 always retraces less than 100% of wave 3
9Wave B retraces at least 90% of wave A
8Price after the last labeled point has not crossed a rule-based invalidation level
6Contracting diagonal: wave 3 is shorter than wave 1, wave 5 shorter than wave 3, and wave 4 shorter than wave 2

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 16, 2026

Fibonacci map

Confluence zones above and below the closeClose 28.04

28.04close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

28.78 – 29.12+3.2% from the close

3 relationships · strength 2.4 · Intermediate, Minor degrees

29.12RetracementCorrection retraces 50% of waves 1–5 · Minor · Basics · secondary ratio
28.90ProjectionWave C = 161.8% of wave A · Intermediate · Essentials · secondary ratio
28.78RetracementWave 4 retraces 50% of wave 3 · Minor · EWF · secondary ratio

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

Bullish setupActive now

Correction complete

A correction looks complete, so the larger trend would normally resume.

Pattern Confidence 70 · High

Reference level0.0% from close

28.04

Latest close

Invalidation−12.6% from close

24.52

End of wave C: beyond it the correction is still extending

Structural target+30.9% from close

36.71

Move after the correction retraces 61.8% of A–C

Reward : risk

2.5 : 1

Invalidation 12.6% from the reference level · 4.2 ATR

Track record: this setup reached its target first in 29% of 1,608 past cases, averaging +0.08R. Method

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.BasisIntermediate degree, daily bars through Oct 16, 2026. Followed for up to 60 sessions in the track record.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 16, 2026
Price history: Automatic, updated nightly
Daily bars: 514 since Sep 30, 2024
Avg volume, 50 days: 6.99M
Dollar volume, 20 days: $272.0M
SEC CIK: Not matched
Provider symbols: nasdaqtrader: TMF · massive: TMF
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 19, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 16, 2026

Since the count's last pivot (24.52, Oct 7, 2026) price has moved +14.4%, the way the count expects.12 of 12 rule-valid counts expect the current move to be up.Weekly count: ending diagonal wave 5 ↓, opposite direction

Preferred count

Zigzag down · complete, next move up ↑

A three-wave zigzag correction down looks complete, so the larger trend would normally resume up.

A-B-C from 44.24, Oct 21, 2025

Pattern Confidence70High

5 of 6 checks met

Key levels, preferred count

Reassess−12.6% from close

24.52

The pattern ended here. A move below it means its last wave is still going, so the pattern isn't complete.

Target, next move+30.9% from close

36.71

Move after the correction retraces 61.8% of A–C

Nearest confluence zone+3.2% from close

28.78–29.12

3 Fibonacci relationships meet here.

Alternate count

Flat up · wave C ↑

Price is in wave C of a three-wave flat correction up.

A-B from 31.58, May 19, 2026

Pattern Confidence60Medium

1 of 1 checks met

Why this count is preferred · 5 met, 1 not met

Met

Wave B retraces 38.2% to 85.4% of wave A
Wave B retraces under 90% of wave A (deeper B waves fit a flat better)
Wave C travels beyond the end of wave A (a failure is a truncation)
Wave C equals 61.8%, 100% or 123.6% of wave A
Alternate waves are related by a Fibonacci ratio within 5% (wave 5 to wave 1, C to A, or triangle legs at 61.8%), the more reliable kind of relationship

Not met

The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed