I’ve got two good looking breakouts today. They are both ultrashort ETFs with one tracking the semiconductor sector and the other relating to the Russel 2000 index.
Here is the chart for the second ETF:
I really like the look of both of these charts. We have great looking volume that is increasing as the ETF moves higher, a strong move above the 50MA (which hasn’t been crossed in a good long time), and IBD declaring the markets as “in correction” so you can expect the move to continue.
Both of these are at great buy points for me and I’d expect to see them finish the week strongly.
If you aren’t interested in the volatility that comes with the 2x ultrashorts, you can find the 1x shorts version of TWM in RWM.
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