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Since setting a new swing high on May 9th, the Direxion Daily Semiconductor 3x Bear ETF (SOXS) has been riding support along its 10-day moving average. Yesterday, on a pickup in volume, SOXS recovered to close near session highs. A move above the three day high of $41.36 could present a buying opportunity in this ETF. We are placing SOXS on the watchlist. Trade details are posted in the watchlist segment of the newsletter.

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