SDS Crosses Below Key Moving Average Level

ProShares UltraShort S&P500 (SDS) crossed below its 200-day moving average of $74.13, trading as low as $72.94 and down about 2.8% on the day. The move is a technical negative for the leveraged inverse S&P500 ETF, signaling near-term weakness in the fund but is unlikely to have broad market impact.

Analysis

ProShares UltraShort S&P500 (SDS) crossed below its 200-day moving average of $74.13, trading as low as $72.94 and down about 2.8% on the day. The move is a technical negative for the leveraged inverse S&P500 ETF, signaling near-term weakness in the fund but is unlikely to have broad market impact.