QID - Pro Shares Ultra Short QQQ
SDS - Pro Shares Ultra Short S&P 500
EEV - Pro Shares Ultra Short MSCI Emerging Markets
SRS - Pro Shares Unltra Short Real Estate
DXD - Pro Short Ultra Short Dow 30
Keep your eyes on the (ETFs) exchange traded funds listed above as the stock market digest its big move after 3 weeks of advances. Please keep in mind that we are still in a bear market as well as a recession.
The Dow Jones Industrial Average ended the day trading at 7522.02 down 254 points for the day. Downside support on the Dow is at 7285.50. Any move below downside support may be a possible test of the lows made at 6469.95 four weeks ago.
Historically the stock market falls between the months of April through October with commodities and energy related stocks heading higher. As for now we continue to see the market attempt yet another run but we will remain in a down trending market until the Dow bounces through the 9500 area.
If the market continues to move to the downside (ETFs) will move to the upside in the short term. Keep all the ETFs listed above on your watch list for possible moves to the upside. The DXD ended the day up 6.53%, SRS 11.62%, EEV 10.14%, SDS 7.13%, and QID up 4
*** Please have a look at the chart below ***