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Inverse Head And Shoulders In ProShares Ultrashort FTSE/Xinhua China 25 (FXP)
By Andy Swan | Published  07/1/2008 | Stocks | Unrated
Inverse Head And Shoulders In ProShares Ultrashort FTSE/Xinhua China 25 (FXP)

Last Thursday, when the market sold off hard, ProSharesUltrashort FTSE/Xinhua China 25 (FXP) broke a 5-month inverse Head and Shoulders on heavy upside volume. This upside volume indicates FXP is headed above 100 over the coming months. FXP is an ultrashort, so an upside move in FXP would actually indicate the index that FXP follows is selling off.



Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.