TNA is not exhibiting strong indicators for a rise tomorrow. Here's the analysis to support this conclusion:
- Technical Indicators: The ETF's short-term trend forecast is not available, and the mid-term and long-term forecasts are also not provided. However, the closing price as of the latest data is $38.96, which is above the 1-week average trading volume of $36.761. This suggests a recent uptrend.
- Market Sentiment: There is a buy signal from the short-term moving average, but there are also negative signals that may influence near short-term development1. The Direxion Daily Small Cap Bull 3X Shares has seen an outflow of approximately $73.4 million, which is a 2.6% decrease in shares outstanding2. This outflow can sometimes indicate a lack of investor confidence or a shift in market sentiment.
- Institutional Activity: There have been changes in the holdings of various institutions, including Choreo LLC, Jane Street Group LLC, IMC Chicago LLC, Virtu Financial LLC, and Flow Traders U.S. LLC, which could imply some level of market activity3.
- Fundamental Analysis: The ETF seeks daily investment results that are 300% of the performance of the Russell 2000 Index4. The performance of the underlying index and the ETF's exposure to it can influence the stock's movement.
Given these points, while there is some positive momentum, the lack of strong technical indicators and the recent outflow suggest that TNA may not rise significantly tomorrow. It is important to monitor the market closely and consider these factors along with any new developments that could influence the ETF's performance.