The ProShares UltraPro S&P 500 ETF (UPRO) made its run-up back to the 200-day moving average after being down for three days in a row and nearly touching the 100-day moving average.
Whether the S&P 500 will be able to continue its uptrend or not from current levels remains to be seen. However, I do believe technicals are looking constructive for the market, and fundamentals remain strong as well. Recent political news involving President Trump and his obstruction allegations, for example, were certainly favorable for his team.
This political event is significant because