ERY has been on a run, up from 16 to 20 areas in four days. Further, the two ETFs channel nicely, making them easy to trade. ERY appears to be coming out of a Bollinger squeeze, per the daily graph (upper left corner). It is low in teh 60-minute channel, and appears to be breaking its trendline on the 3-minute graph. 
ERX, the bull mirror of ERY, is dropping out of a Bolliner squeeze, and is now poised for another leg down. It is at the higher channel line of the 60-minute graph, and shows a breaking of the trendline on the 3-minute graph.These are the daytrading movements. If swing trading, it would be better to await a change of trend from the one now moving for four days. This will be evident on the 60-minute graph, with a breakout of the current channel.
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