Small-cap Index and Stocks Rebounding: $TNA & $UWM ETFs to Follow?
According to @sentimentrader
This is the 24th time the $iShares Russell 2000 ETF(IWM)$ closed at a 52-week low, then surged to its best 4-day rally in at least 3 months. A year later, the small-cap index was higher 100% of the time with a median return of +25.6%.
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In Thursday trading we saw many small caps, but growth stocks jumped by 2 digital %.
In the ETF markets, the $Direxion Daily Small Cap Bull 3x Shares(TNA)$ was up over 8% and ranked #2 on Thursday, while the $ProShares Ultra Russell2000(UWM)$ was up over 5% and ranked #9.
On a 5-day basis, the $Direxion Daily Small Cap Bull 3x Shares(TNA)$ has gained 10.11%, and the $ProShares Ultra Russell2000(UWM)$ has only gained 6.87% and was ranked 17th on Thursday.
Look at the daily chart: $Direxion Daily Small Cap Bull 3x Shares(TNA)$ and $ProShares Ultra Russell2000(UWM)$ still in a very low price range, the YTD 2023 of each are -21.32% &-11.05%.
Some good news on 30 Oct. that the $Direxion Daily Small Cap Bull 3x Shares(TNA)$ had an approximate $113.4 million dollar inflow -- that's a 10.4% increase week over week in outstanding units (from 50,000,000 to 55,200,000).
Support and Resistance Plot Chart for $ProShares Ultra Russell2000(UWM)$
stocktradersdaily.com
Blue = Price as 30 OCT, Red= Resistance, Green = Support
Questions for Tigers:
Do you have interest in small cap ETFs like $Direxion Daily Small Cap Bull 3x Shares(TNA)$ & $ProShares Ultra Russell2000(UWM)$
What’s your most anticipate ETFs by now?
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... Waw