It's possible that the time to consider the Direxion Daily Financial Bull 3X Shares (NYSE:FAS) or the Direxion Daily Financial Bear 3X Shares (NYSE:FAZ) is drawing near. The bullish FAS tries to deliver triple the daily returns of the Russell 1000 Financial Index while the bearish FAZ looks for returns that triple the daily inverse performance of that benchmark.

“However, with August in the rearview, traders might benefit from taking a closer look at exactly where the financial sector stands after the recent sell-off,” said Direxion in a recent note. “In fact, in the midst of all the trade war and global recession fears, earnings reports from the big banks revealed an industry still rolling along at a steady pace.”

“Ultimately, the fundamental statistics from the banks and the anecdotal evidence from the Fed only serves to illustrate the current business ecosystem, and can’t account for unexpected shifts in the global economy or market sentiment,” said Direxion. “But, with three more meetings planned for 2019 and an undefined course for exactly what the Fed is doing with prevailing rates, big bank investors need to contend with whether the current evidence on the financial sector’s core business strength can weather the equity market’s anxiety around business growth, global trade and whether the next recession is a few months, or years away.”