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Bank of America (BAC) – seems to found support at the low $5 range. It has been trading in a choppy sideways fashion since then and rallied close to 40% off its October low. It continues to rank well in our stock ranking model (8 of out 3,517)
NKE – NIKE
It’s apparent that NKE is struggling in making new highs. It’s very possible that it formed a top in late October. It continues to rank poorly in our stock ranking model (3,471 out of 3,517)
Key Leveraged ETFs:
TMF - Direxion Daily 30-Yr Trsry Bull 3X Shrs
The 30-year treasuries are rallying again, indicating weakness in the stock market is emerging once again. With the 200 SMA rising, there is nothing that prevents TMF from going higher from here. Currently, it ranks in the top quintile 1 of our leveraged ETF universe.