Market Overview

Direxion Daily Semiconductors Bull 3x Shares Down 26.1% Since SmarTrend Said Sell (SOXL)

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SmarTrend identified a Downtrend for Direxion Daily Semiconductors Bull 3x (NYSE: SOXL) on May 17, 2011 at $53.51. In approximately 1 month, Direxion Daily Semiconductors Bull 3x has returned 26.1% as of today's recent price of $39.55.

In the past 52 weeks, shares of Direxion Daily Semiconductors Bull 3x have traded between a low of $21.28 and a high of $75.36 and are now at $39.55, which is 86% above that low price.

Direxion Daily Semiconductors Bull 3x is currently below its 50-day moving average of $54.22 and below its 200-day moving average of $49.27. Look for these moving averages to decline to confirm the company's downward momentum.

In the last five trading sessions, the 50-day MA has fallen 2.07% while the 200-day MA has risen 0.76%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Direxion Daily Semiconductors Bull 3x.

Write to Chip Brian at cbrian@mysmartrend.com

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