If you are going to take an Upside trade in the Inverse ETF (Green Buy signal in column of Xs), make sure the Index it is tracking is a confirmed Downside opportunity (Red Sell signal in column of Os). This is a Relative Strength price validation that the ProShare ETF is actually trading inversely to the Index is tracking, for the inverse trade to make sense in the first place.
"B" = Relative Strength Chart is on a Buy Signal.
"S" = Relative Strength Chart is on a Sell Signal.
"Xs" = Relative Strength is in column of Xs.
"Os" = Relative Strength is in column of Os.
Technical Attributes rank one ticker against all the other tickers in the Matrix as a peer group comparison, based on these criteria:
1. Relative Strength has a Buy/Sell signal.
2. Relative Strength column is in an X/O column.
3. Relative Strength has a Buy/Sell signal versus peer group of other Indexes/ETFs.
4. Relative Strength column is in an X/O column versus peer group of other Indexes/ETFs.
5. Underlying is trading Above its Bullish Support line/Below its Bearish Resistance Line.
Specific to leveraged inverse products like ProShares ETFs, the range of scores is 1 being the lowest and 6 the Highest.
A score closer to 6, means the product has the strongest Relative Strength as a Long position relative to its peers.
A score closer to 1, means that product has the weakest Relative Strength as a Long position relative to its peers. But, this also makes it more relevant as a Short opportunity.