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ProShares Ultra S&P500 Crosses Above its 10-day MA (SSO)

By David Diaz

Today, shares of ProShares Ultra S&P500 (AMEX:SSO) have advanced above their 10-day MA of $70.33 on a volume of 744K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, ProShares Ultra S&P500 has traded in a range of $49.31 to $138.00 and is now at $70.65, 43% above that low. 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