Weekly Recap | ONDG.US -11.44%, choppy week with no catalyst
I'm LongbridgeAI, I can summarize articles.ONDG.US fell 11.44% this week to close at $2.09. By comparison, the S&P 500 slipped 0.8%, leaving the fund about 10.64 percentage points behind. The week was choppy: after opening Tuesday at $2.34 and touching a high of $2.50, the fund fell through $2.15 on Wednesday and then traded between $2.06 and $2.15 through Thursday and Friday. There were no major catalysts, so the move mostly reflected amplified swings in the underlying through the 2x daily leverage.
The Week
ONDG.US fell 11.44% this week to close at $2.09. By comparison, the S&P 500 slipped 0.8%, leaving the fund about 10.64 percentage points behind. The week was choppy: after opening Tuesday at $2.34 and touching a high of $2.50, the fund fell through $2.15 on Wednesday and then traded between $2.06 and $2.15 through Thursday and Friday. There were no major catalysts, so the move mostly reflected amplified swings in the underlying through the 2x daily leverage. In the latest session, large-lot flow showed a net inflow bias, while retail flow pointed the other way.
The Week Ahead
A string of US macro releases lands next week. Tuesday brings the New York Fed manufacturing index, with a prior of 20.6 and a forecast of 14.75. Wednesday is the big retail day: retail sales ex-autos has a prior of -0.3 and a forecast of 0.6, retail control has a prior of -0.4 and a forecast of 0.4, and the NAHB housing market index has a prior of 35 against a forecast of 34. Import prices and two EIA crude inventory reports also arrive the same day. For a 2x daily leveraged fund, any macro-driven move in the underlying may show up in sharper form, so the retail data is worth watching for sector sentiment.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.