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Bearish Moving Average Cross by ProShares Ultra S&P500 (SSO)

By David Diaz

Today, shares of ProShares Ultra S&P500 (AMEX:SSO) have crossed bearishly below their 10-day moving average of $69.18 on a volume of 662K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

ProShares Ultra S&P500 share prices have moved between a 52-week high of $138.00 and a 52-week low of $49.31 and are now trading 40% above that low price at $68.80 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

SmarTrend is tracking the current trend status for ProShares Ultra S&P500 and will alert subscribers who have SSO in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses amex:sso proshares ultra s&p500

Ticker(s): SSO