Wall Street witnessed huge volatility in December. We have highlighted a bunch of the best-performing leveraged or inverse leveraged ETFs that have been leading over the past month.
What a day for Meta! I was planning to add to my position, but the volume was too low. I would have been shaken out of most of it for the swing before it could become this position trade.
The second quarter proved to be a banner quarter for Wall Street, with the S&P 500 and the Nasdaq Composite Index scaling new record highs on several occasions.
U.S. stocks reached new peaks on Thursday, propelled by Nvidia’s blockbuster earnings report. Both the S&P 500 and Dow Jones concluded the day at all-time highs, gaining 2.2% and 1.2%, respectively.
While almost every corner of the technology sector is shining, the demand for leveraged ETFs has increased, as these could see huge gains in a short time frame compared to simple products.
I last wrote about FNGU in December. It failed to recapture and hold above the 33.00 level, and it instead closed at 25.74. It's approaching a support zone from 20.00 to 25.00. A drop below 20.00 could be catastrophic for the technology sector.
Both the S&P 500 and the Dow Jones Industrial Average ended the day with new closing highs on Monday. The Nasdaq Composite also made a good showing and activity in the small caps pulled the Russell 2000 strongly, ahead.
Market breadth has improved markedly over the last two weeks, but risks remain as investors await messaging on tapering and Covid infections continue to spread.
