rydex ursa chart points to market top?

  1. 5,881 Posts.
    Have been considering buying the US rydex ursa fund for a few months now unfortunately I need to invest 25G US and I am also worried that the US dollar is about to roll over again making this a pretty risky trade.
    The reason I am posting is that this fund is inversely correlated to the S&P 500 and looking at the 2 year chart of this fund I note the support at $10 (It has bounced from here a couple of times) could the support at $10 point to a possible top for this rally? The current price is $10.30. By the way does anyone know of any Australian funds that are inversely correlated to the All Ords ASX 300 etc? You can view the rydex ursa chart at bigcharts or yahoo. Thanks in advance.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.