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Oversold List Shows Market at Tipping Point

SDS Chart SDS data by YCharts

ProShares UltraShort S&P 500 ETF (SDS)

Background: SDS trades an average of 17.2 million shares per day .

52-Week High: $28.16

52-Week Low: $13.03

Similar to the love I have for the Faz, I don't believe trading SDS makes a lot of sense other than for intraday trading in accounts that are not able to short. Self-directed IRAs come to mind. Even for those purposes, I question if the edge is positive.

Also, similar to FAZ, SDS is oversold on the weekly, and on the daily chart. The daily is in a strong downtrend, and despite the transaction friction that causes loss in value, we still have to assume a reversion to the mean with an index product is expected.
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FAZ $50.70 0.00%
IWM $110.63 0.00%
SDS $22.47 0.00%
SPY $195.00 0.00%
TZA $50.98 0.00%


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