This is one of those inverse 3x bear ETF’s. It is very suitable for people that only want to play from the long side. As is clear from the above 5 year ski slope this was not a good place to be. Neither was our favourite HXD which we think started the trek back up now almost a year ago, albeit without much progress.
The SPXS gives you 3x the bang for your buck and judging from the detailed chart it looks like a flat 3-3-5 was completed in February followed by a 5th wave down to the trend line. This should be complete at about $13.85 or so. The first target is a double at $23/$25 but clearly much higher levels are realistically possible. A buy now.