Ultra Short Technology ProShares ETF (REW) — This Exchange-Traded Fund (ETF) seeks daily investment results that correspond to twice the inverse of the daily performance of the Dow Jones Technology Index.

This non-diversified fund, which normally invests 80% of assets in technology stocks, benefits if technology stocks fall and is, thus, a substitution for shorting those stocks.

Note the “W” base and the trading gap at $89 to $104, which was partially closed when the ETF ran to $104 on March 9.

Yesterday reversed a near-term correction and resulted in the stochastic falling into oversold status. A purchase at $75 could yield a trade to $100.

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