Direxion Daily Financial Bull 3X Shares(FAS) dramatic rally unlikely this week

It’s a fresh week, and a new month but the tone for U.S. stocks hasn’t changed much yet from May’s ugliness. European markets selling off, and euro reaches a four-year low against the dollar. Asian stocks also lower overnight after some hints that China’s growth may be easing. Stock futures have improved from earlier levels, but still suggest a potent downdraft when regular trading begins.

From high in April at about $ 40, FAS has dragged his bullish support line at $ 20. But last week an investment, which doubled on Tuesday, indicates that the rate could quickly jump to its 200-day moving average at $ 27.