Direxion Daily Russia Bear 3X (RUSS)

[THREE-DAY-TRADER]

It's all about the 21 area on RSX right now, which is current resistance.
It was treading a fine line & tight trading area all day today.
Today marks 8 straight days in a row in red for RUSS. It's due for a bounce soon. Possibly Monday or by Tuesday next week (Dec 12-13) we may get it.


RSX is really quite overbought, and sure it's possible a little upside yet could occur.
But it seems reasonable that it'll pull back toward 20 or even 19 fairly soon.
I realize there is risk yet of a melt-up in the overall market, but I'm starting to question this intense run up in such a quite short period of time as appearing excessively euphoric.

Thanks for your input & kind wishes
:)