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Rydex 2x S&P 500 ETF (RSU) Approaches New Downside Target of $26.84

Written on Thu, 07/01/2010 - 2:19pm
By Chip Brian

SmarTrend has detected shares of Rydex 2x S&P 500 ETF (NYSE:RSU) have bearishly opened below the pivot of $27.94 today and have reached the first level of support of $27.27.
Should the shares continue to fall, we are monitoring the next support pivots of $26.84 and $25.74. Also, the shares are currently trading below the 50-day moving average of $32.85 and below the 200-day moving average of $32.55.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Rydex 2x S&P 500 ETF on May 06, 2010 at $31.50. Since the call, the stock has fallen 13.7%.

Keywords: rydex 2x s&p 500 etf pivot points

Ticker(s): RSU

Contact Chip Brian



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