Editor’s Note: Due to the Martin Luther King, Jr. holiday Monday, Jan. 19, we will not be publishing a Chart of the Day. The next trade will arrive Tuesday, Jan. 20.

Ultra S&P 500 ProShares (SSO) — This Exchange-Traded Fund (ETF) seeks daily results, before fees and expenses, that correspond to twice the daily performance of the S&P 500 index (SPX).

Like its parent, “the 500,” SSO shows a support line but at $22, which roughly correlates to S&P 810.

Yesterday’s Collins-Bollinger Reversal (CBR) could result in a run to the conjunction of the 20- and 50-day moving averages at $25.50, and if that is exceeded perhaps even to $28. But a close lower today could result in a sell-off, so only risk what you can afford to lose and place a sell-stop under $21.50.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.