chartwatchers
Long

ERX broke out from the raising triangle

AMEX:ERX   DIREXION SHARES ETF TRUST ENERGY BULL 3X SHS 3X SHS
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ERX (The fund seeks daily investment results of 300% of the performance of the Energy Select Sector Index .) broke out today.

The fund had its biggest rally today since 11.16.2015. The breakout has a good volume .
ERX had a higher low when oil was printing a lower low on 02.11. So the energy shares were pricing that oil is bottoming soon. Based on this oil will follow the energy shares and will break out also.


Just a short thought: The price of ERX was 140 2 years ago. 700% is not bad in 2 years...

Great idea boss, I don't follow this fund but your PA seems sound, what are you shooting for 3to1 right below the 200 MA?
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