xtremerider8

S&P500 leveraged making Sine wave pattern & returning to neck

Long
AMEX:SSO   ProShares Ultra S&P500
SSO is a safer 2x leveraged etf of SPX than SPXL. It recently formed slight divergence & a big engulfing candle, probably due to oversold RSI & also short coverings after Thursday’s dump & pump with investors betting massively on both directions triggered by a high CPI report.
Prices may return to the neckline (return to mean) next week.
Not trading advice