The Technology Select Sector SPDR (NYSE: XLK), the largest technology exchange traded fund by assets, has recovered some over the past several days, but the fund still resides about 7.5 percent below its most recent high, set in July.
Following its July high, XLK retreated with selling pressure accelerating earlier this week, a scenario that sparked soaring volume in the triple-leveraged ETFs designed to be geared plays on XLK. It looks unlikely to happen Friday, but the Direxion Daily Technology Bear 3X Shares (NYSE: TECS) and the Direxion Daily Technology Bull 3X Shares (NYSE: TECL) have been homes to volume explosions in recent sessions.
Recent Movement
Over the past five trading sessions, excluding today, volume in TECS surged to 140 percent above the ETF's trailing 20-day ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5799979/tech-tumble-sparks-volume-surge-in-leveraged-etfs alt=Tech Tumble Sparks Volume Surge In Leveraged ETFs>Full story available on Benzinga.com
More...