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For the past four sessions the ProShares UltraShort Euro ETF (EUO) has been consolidating just above its 20-day and 50-day moving averages. A volume assisted move above the two day high of $18.91 could provide a buying opportunity in this inverse ETF. During the recent market rally the iShares MSCI EAFE Index ETF (EFA) has shown relative weakness as it was unable to even get close to its 200-day MA. EFA is now below support of all of its moving averages. A move below the two day low of $49.03 could present a short entry trigger for this ETF.

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