Upside movement in the FAZ would depend on the direction of the general market. If the Dow Jones Industrial Average, the Nasdaq and the S&P 500 continue to move lower the FAZ will move higher. The Ultra Short Etf's such as the SRS - Real Estate Short all face the same threat. Due to the suckers rally that took place over the past 6 weeks, we are not out of the woods yet. There is a 95% chance that the FAZ will continue to move higher. At the close of the market the FAZ ended the day trading at $11.63 up $2.73 or 30.67% on 235.2 million trading volume. In after hours the FAZ ended trading at $11.89 uo $0.26 or 2.24%.
The low on the Dow Jones Industrials last week was 7,870.48 with the 5 week moving average at 7,857. 37. Downside support on the Dow is currently at 7,540.81. To end the trading day the Dow closed below last week’s price low and the prior 5 week moving average. The Dow Jones Industrial Average ended the trading day at 7,841.73 -289.60 or 3.56%.
The investments listed are not buy recommendation please do your own due diligence or get help from a professional before investing.
By: Marlin Rolle
*** Please click on the chart below in order to enlarge its view. ***

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