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Yesterday, the Direxion Daily Technology Bear 3x Shares ETF (TYP) formed a bullish engulfing candle on burst in volume. An engulfing candle is formed when the present day’s price action completely “engulfs” the previous day’s candlestick. A move above yesterday’s high of $11.68 could present a buying opportunity in this inverse ETF. We are placing TYP on the watchlist. Trade details are posted in the watchlist section of the newsletter.

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