Direxion Daily Technology Bull 3X Shares
) - This highly leveraged
(ETF) attempts to mirror three times the daily results of the
Russell 1000 Technology Index.
The major indices have broken both near and intermediate
support zones. But the downturn is rapidly approaching the major
November-December breakout zone. Historically, zones like this
have provided support for the broad market and should be used as
Buy TYH on a further thrust lower and evidence of a market
reversal. Support at $40 would be an ideal level to take new
positions with a rebound target of $47 to $52.
Leveraged ETFs seek to deliver multiples of the performance of
a benchmark, but returns over longer periods will likely differ
in amount and even direction. These products require active daily
monitoring and management. They are not suitable for all
investors, and stop-loss orders should be used to protect against
Trade of the Day
is not a fee-based managed portfolio service, so traders must
actively manage their own buy and sell prices.
If you have questions or comments for Sam Collins, please
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