Trade wars will continue to play a hand in the latest market oscillations, but the recent pullbacks could present buy-the-dip opportunities for leveraged exchange-traded funds (ETFs). Just as U.S. President Donald Trump announced new tariffs and then scaled back on certain items on the list of Chinese products, the markets were sent on a volatility rollercoaster ride.

Traders can take advantage of these markets movements in the S&P 500. For those especially looking for juicing up their trades, there are leveraged exchange-traded fund (ETF) options available.

“We’ve got the advantage of buying on the lows for investors that do not believe we are heading into a recession,” said Syliva Jablonski, Managing Director, Capital Markets and Institutional ETF Strategist at Direxion in an email. “Data certainly supports uncertainty, and gives investors good reason for risk off, but on the other hand, earnings have held up, the consumer remains strong, and it doesn’t feel like we are at the end of the bully rally to me. Yes, cyclicals and growth have fallen off of highs and that makes sense as those names have a high percentage exposure to China. However we also have an election year coming up and there might be some incentive for the president to expedite negotiations. I don’t see that in the near term, but in 2020, you want rising markets.”

The markets could be further moved with actions by the Federal Reserve.

“The market was really focused on Jerome Powell’s word for word on rate cuts, but all along he’s agreed to support expansion,” Jablonski added. “If we see continued rate cuts to offset trade war rhetoric, we might see the market start to pull back up.”

Potential leveraged ETF plays in the Direxion Daily S&P500 Bull 3X ETF (NYSEArca: SPXL) and the Direxion Daily S&P 500 Bear 3X ETF (NYSEArca: SPXS) could have traders placing these ETFs on their watch lists.

SPXL seeks daily investment results of 300% of the daily performance of the S&P 500 Index. The fund, under normal circumstances, invests at least 80% of its net assets in financial instruments, such as swap agreements, and securities of the index, exchange-traded funds (ETFs) that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index.

SPXS seeks daily investment results, of 300% of the inverse (or opposite) of the daily performance of the S&P 500 Index. The fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund’s net assets (plus borrowing for investment purposes).

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