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Direxion FTSE Russell International Over US ETF Direxion Shares ETF Trust
The decisive rebound in the EPS revision cycle from the pandemic lows in June has provided much of the firepower behind this summer's risk rally.
The downtrend in 2020 EPS forecasts appears to have bottomed, while 2021 numbers have swung higher.
With hopes for a robust EPS recovery next year still riding high, any further deterioration or a negative turn in the revision cycle could create headwinds for markets.