Index Trend Analysis Report
Prepared for you on Thursday, October 22, 2020.
Direxion Daily S&P 500 Bear 3X Shares (GIF:SPXS)
Bear Market Rally (-75) - SPXS is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on SPXS as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid SPXS?
MarketClub looks at technical strength and momentum to determine if the timing is right for SPXS.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for SPXS
The long-term trend has been DOWN since Sep 1st, 2020 at 5.2110
The intermediate-term trend has been DOWN since Sep 1st, 2020 at 5.2110
The short-term trend has been UP since Oct 15th, 2020 at 5.2996
Smart Scan Analysis for SPXS
Based on our trend formula, SPXS is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).