The famous volatility of October lives on. Down 153 yesterday, up 253 today. Hopes for revival of the European markets and good earnings from CAT and MMM propelled the markets up although we closed near the lows of the day. Trying to tactically play this market means either being whipsawed more than usual or accepting a relatively high level of risk if the Trap Door opens again.
Interestingly, UPRO has better relative strength and momentum than XIV as can be seen from the charts below. M3 has ranked it higher than XIV for the past 3 days.