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ProShares Ultra S&P500 Rises 2.25% on Heavy Volume: Watch For Potential Pullback

By James Quinn

ProShares Ultra S&P500 (AMEX:SSO) traded in a range yesterday that spanned from a low of $66.14 to a high of $66.68. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $65.78 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

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 34% above that low price at $66.24 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

Keywords: rebounders amex:sso proshares ultra s&p500

Ticker(s): SSO