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The Direxion Daily Financial Bull 3x Shares (FAS), on a burst of volume yesterday, rallied to close just below the four day high of $77.63. FAS has been consolidating in tight range for the past six sessions just above its 10-day moving average. In a strong market, it is not unusual for ETFs to track the 10-day, rather than the 20-day moving average, for extended periods of time. This ETF is on the cusp of breaking out. If the market cooperates and FAS sees solid volume tomorrow, it could present a buying opportunity above the four day high. We are placing FAS on the watchlist. Trade details can be found in the watchlist section of the newsletter.

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