DRAL

The Week

DRAL.US closed the week up 13.15% at $11.62. That compares with a 0.09% gain for the S&P 500, leaving the ETF ahead of the benchmark by about 13.06 percentage points. The move was backloaded. Monday opened at $10.46, touched $10.70 and finished at $10.67. Tuesday turned lower, dipping to $9.81 before settling at $9.99. The next two sessions were rangebound between $10.05 and $10.44, with Thursday printing the week’s low of $9.675. Friday then saw a sharp rally on heavier volume, hitting $11.65 and closing at $11.62. Weekly amplitude was 18.88%, with a range of $9.675 to $11.65. No material catalysts hit during the week, so the move largely reflected the leverage of this 2X long DRAM vehicle.

The Week Ahead

The macro calendar picks up in the coming week. Tuesday (8 Sep) brings the NFIB small business optimism index, prior 99.8. Thursday (10 Sep) is the big day: initial jobless claims, prior 206 with 205 expected; final demand PPI, prior 0 with 0.4 expected; core final demand PPI, prior 4.2 with 4.6 expected; existing home sales, prior 4.06 with 3.99 expected; and wholesale sales, prior -3. The same day also features a 10-year Treasury auction and the EIA natural gas storage report. These data points will shape rate path pricing, which can feed through to volatility in growth and leveraged ETFs.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.