For Wednesday, Aug 17, the market forecast is for growth

We recommend any leveraged ETF that grows with the US market.

Here are some options:

2x Leveraged ETFs

NASDAQ 100

Russell 2000

S&P 500

QLD

UWM

SSO

3x Leveraged ETFs

NASDAQ 100

Russell 2000

S&P 500

TQQQ

URTY

UPRO

Technical Comment:
Tuesday’s decline in the S&P 500 was on higher volume, both higher than the 30-day moving average and the previous day. The drop of almost 1% on higher volume is a negative indicator not typical of a growth trend.

Subjective Comment:
The large drop in US markets appears to be continued reaction to news from Europe. Fundamentally, nothing has changed our opinion about the factors influencing the markets. Our commentary posted over the past two weeks remains relevant. Tuesday’s downward action is not consistent with a healthy upward trend, but the drop was not enough to change our growth forecast.

Our forecast is updated daily, and the title of each post might imply we’re attempting to predict each day’s individual movement. Our forecast is actually attempting to predict a market trend that should last much longer than one day. If it seems we are attempting to predict each day’s results, we’re not. We would welcome any suggestions to add clarity to our forecast.

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