An UltraShort ETF that has been gaining massive popularity due to the economy plunging downard in the past few months…especially in the financial sector ETF…SKF. This ETF right now has a great setup of a consolidation. As you can see from box “A” The support level is clearly at the 100 price mark. Sure enough from hitting all the buyers at the 100 price level the ETF bounced 100 points to the 200 mark. Right now in box “B” the technical graph clearly dictates the sellers on this ETF are at the 120 price mark and the buyers still at the 100 price mark. According to the volume statistics there is alot more volume that occurs only when hitting the 100 price mark rather in comparison when hitting the 120 mark. So this is a great oppportunity to either go for a breakout or breakdown on this ETF when the market shows more of a downturn or an uplift of the overall market.
