Yesterday at a glance: Biotech Bull and Bear 3X ETF went up to $7.19 yesterday, gaining 10.79%.
At the same time, United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
Direxion Daily S&P Biotech Bull 3X Shares made an initial breakout above its 21 day Simple Moving Average at $7.12, a potential indicator of a newly emerging bullish phase. In contrast, Biotech Bull and Bear 3X ETF could be slowing down soon; it is getting close to the resistance line and is now at $7.43, only 24 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Biotech Bull and Bear 3X ETF might continue pointing upwards in the short term.
Other markets are also showing gains as notably, ARK Innovation ETF rose 7.03% yesterday and closed at $34. Amazon shoots up 6.45% yesterday and closed at $106.9.
In the meantime, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% yesterday and closed at $25.36.
Also worthy of note, United States Crude Oil Inventories projected to decline to 1.55 million while previous data was 9.88 million; data will be released tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Building Permits (Sep) scheduled to come out tomorrow at 12:30 UTC.
11 months ago Biotech Bull and Bear 3X ETF reached a significant high of $65.93 but has consequently lost 90.16% since then.