Pro Shares Ultra S&P 500

Overbought Matters for At Least A Day

For one day at least, sellers converged with stock market technicals to deliver a large one-day drop in the S&P 500. As it turned out, the three-month highs in T2108, the percentage of stocks trading above their 40-day moving averages (DMAs), did matter after all. T2108 plunged along with the stock market for its worst … Read more

Cautious As the S&P 500 Hits the Upper Resistance Target

I thought I would get extremely bearish once the S&P 500 reached my upside resistance target of 1300-1310. Yet here we are just five weeks into the year, and the deepest angst I can summon is an uncomfortable sense of “caution.” With T2108 – the percentage of stocks trading above their respective 40-day moving averages … Read more