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Market Scan: Following Shares of Direxion S&P 500 Bull 2X (SPUU)

More notable recent Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) news were published by: Nasdaq.com which released: "ETF Preview: ETFs, Futures Higher Following Upbeat Earnings from JP Morgan ..." on October 12, 2017, also Nasdaq.com with their article: "ETF Preview: ETFs, Futures Modestly Higher as Wall Street Prepares for Start ..." published on October 10, 2017, Nasdaq.com published: "ETF Preview: ETFs, Futures Mixed to Higher; Dow on Track to Resume Record Highs" on October 09, 2017. The current level of the shares now stands at 116.00 at the time of writing. Moving averages are considered to be lagging indicators meaning that they confirm trends.

Investors may be trying to define which trends will prevail in the second half of the year. When the trend is absent or the market is volatile, this system generates a lot of incorrect signals. Moving averages are a popular trading tool among investors. Currently, the 7-day moving average is sitting at 66.38. Active investors may choose to use this technical indicator as a stock evaluation tool. The CMF is based largely on the Accumulation Distribution Line; it compares the close value with the high and the low for that same day.

The Williams Percent Range or Williams %R is another technical indicator worth taking a look at.

Direxion Homebuild & Suppliers Bull 3X (NAIL) presently has a 14-day Commodity Channel Index (CCI) of 72.80. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. The CCI technical indicator can be used to help determine if a stock is overbought or oversold. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action. The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements.

The Average Directional Index or ADX is a popular technical indicator created to help measure trend strength. The ADX alone was created to measure trend strength. Many traders will use the ADX in combination with other indicators in order to help formulate trading strategies. Currently, the 14-day ADX for Emrg Mkts Bull 3X Direxion (EDC) is 13.92. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A level under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend.

Retail Bull 3X Direxion (RETL) now has a 14-day Commodity Channel Index (CCI) of -129.34.

Healthcare Bull 3X Direxion ETF (CURE) is seeing positive money flow as the Chalkin (CMF) indicator is holding above the zero line. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. The CCI may be used to spot if a stock is entering overbought (+100) and oversold (-100) territory.

Shares of Gold Miners Bull 3X Direxion ETF (NUGT) is moving on volatility today -0.91% or -0.32 from the open.

Checking in on some other technical levels, the 14-day RSI is now at 41.71, the 7-day stands at 41.25, and the 3-day is sitting at 66.80. If the RSI is closer to 100, this may indicate a period of stronger momentum. The Williams %R oscillates in a range from 0 to -100. With the move the stock is now valued at $6.29. The opposite would be the case for a falling ADX line. Many traders keep an eye on the 30 and 70 marks on the RSI scale. RSI is a technical indicator of price momentum, comparing the size of recent gains to the size of recent losses and establishes oversold and overbought positions.



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