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AI ERX Forecast + Trading Strategies


Bullish Case: Increased global energy demand and decreasing inventory levels could drive ERX higher, boosted by rising options sentiment reflected in strong call volume and elevated implied volatility, suggesting potential upward price movement.

Bearish Case: If economic indicators show weakness, this could negatively impact energy consumption, leading to diminished investor confidence and lower ERX prices. High historical volatility may amplify downside risks if selling pressure increases.

Potential Outcomes:

1) Rangebound trading (70%);

2) Bullish breakout towards $65 (20%);

3) Bearish decline below $55 due to weak economic signals (10%). These probabilities stem from historical volatility patterns and market sentiment.

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September 04, 2024


Direxion Daily Energy Bull 2X Shares Forecast

ERX      Direxion Daily Energy Bull 2X Shares

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Correlated Assets

Assets that tend to move strongly with ERX


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (0.98)


VDE Forecast + Options Trading Strategies   VDE  Vanguard Group, Inc. - Vanguard Energy (0.98)


XOP Forecast + Options Trading Strategies   XOP  SPDR Oil & Gas Exploration and Production (0.94)


DVN Forecast + Options Trading Strategies   DVN  Devon Energy (0.91)


GUSH Forecast + Options Trading Strategies   GUSH  Direxion Daily S&P Oil & Gas Exp. & Prod. (0.9)



Uncorrelated Assets

Assets with little price relationship to ERX


PRGO Forecast + Options Trading Strategies   PRGO  Perrigo (0.0)


OI Forecast + Options Trading Strategies   OI  O-I Glass (0.0)


ARE Forecast + Options Trading Strategies   ARE  Alexandria Real Estate (-0.0)


NOW Forecast + Options Trading Strategies   NOW  ServiceNow (0.0)


REM Forecast + Options Trading Strategies   REM  iShares Mortgage Real Est (0.0)



Anticorrelated Assets

Assets that tend to move strongly against ERX


IGV Forecast + Options Trading Strategies   IGV  BlackRock Institutional Trust Company N.A. - iShares Expanded Tech-Software Sector (-0.68)


SOXX Forecast + Options Trading Strategies   SOXX  BTC iShares PHLX Semicond (-0.71)


SCO Forecast + Options Trading Strategies   SCO  ProShares UltraShort Bloomberg Crude Oil (-0.82)


ERY Forecast + Options Trading Strategies   ERY  Direxion Daily Energy Bear 2X Shares (-0.93)


DRIP Forecast + Options Trading Strategies   DRIP  Direxion Daily S&P Oil & Gas Exp. & Prod. (-0.94)



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