SKF Makes Notable Cross Below Critical Moving Average

ProShares UltraShort Financials ETF (SKF) fell below its 200-day moving average of $27.76, trading as low as $27.44 and down about 2% on the day. The move signals short-term technical weakness and a mildly negative near-term setup for the fund. No broader fundamental catalyst is cited in the article.

Analysis

ProShares UltraShort Financials ETF (SKF) fell below its 200-day moving average of $27.76, trading as low as $27.44 and down about 2% on the day. The move signals short-term technical weakness and a mildly negative near-term setup for the fund. No broader fundamental catalyst is cited in the article.