ProShares UltraShort DOW30 is an ETF that corresponds to twice the inverse (-2x) of the daily performance of the Dow Jones index, an index that includes 30 large-cap U.S. stocks and blue-chips, excluding publicly traded utilities and transportation companies.
The market during the first few days of the week showed signs of correction, however, the Dow Jones ended the week at an all-time high.
Considering that this aggressive rally should have a pullback, especially with inflation fears that became evident with Janet Yellen's statements at the beginning of the week, we think it is a good investment to enter a 2x Inverse on the DOW index with the objective of registering a significant correction as the semiconductors or the QQQ did during the week.
- RSI oversold
The market during the first few days of the week showed signs of correction, however, the Dow Jones ended the week at an all-time high.
Considering that this aggressive rally should have a pullback, especially with inflation fears that became evident with Janet Yellen's statements at the beginning of the week, we think it is a good investment to enter a 2x Inverse on the DOW index with the objective of registering a significant correction as the semiconductors or the QQQ did during the week.
- RSI oversold