Alert: 3X ETFs For A Bounce

Fridays have earned a reputation lately for being down days for the market. Each of the five Fridays since Donald Trump was sworn in as president of the U.S. has seen the S&P 500 go down.

But what do we do when the S&P 500 is already down 2.5% for the week? Should we expect another down Friday even when the market is already beaten up? This is where we are today.

For an oversold, reversion to the mean type of trade, let’s consider some triple leveraged ETFs.

Above we see four triple leveraged funds to consider for a short-term trade.

• SPXL - S&P 500

• TNA - Small caps

• LABU - Biotech

• WANT - Consumer discretionary

Each are down hard with an RSI(2) reading in single digits for all or most of the week. They are due for a bounce even if only for a few days.