Wagner added that since FAS is a leveraged ETF, “we are looking for a 20-30% gain over the next two to three weeks (if the setup triggers).”

Stocks in the Russell 1000 Financial Services Index include Bank of America (NYSE: BAC), Citigroup (NYSE: C), J.P. Morgan Chase (NYSE: JPM) and Goldman Sachs (NYSE: GS).

Direxion Daily Financial Bull 3X Shares