Financials Very Strong Out of the Gate

I had quite a few emails about FAS (3x leveraged long Financials ) over the weekend, Financials this morning are very strong out of the gate; I'm always weary of early morning trade, but this could be the start of a move toward QQQ resistance which I admit is an enticing target as was IWM resistance last week, but will be a bit harder to hit-being a bit further away.

I do expect volatility to rise the last few weeks of the year as volume drops.

Here's an opening look at the Financial sector as well as FAS.

Financials...

 1 min leading positive through a flat area of trade, a common place to see divergences like this.

FAS-3x long Financials

 1 min

 2 min

 3 min

 5 min

10 min

The thing to note about FAS is the short term strength that has migrated through the early timeframes (1-5 min), but at 10 mins. it's improved, but still in a leading negative position. This would fit well with what was mentioned last night about a short term run up to try to break the QQQ resistance level and then the longer term move from 11/16 heading back down as it seems its destiny has been-this is also the longer term and higher probability move to take place after the attempt on the Q's resistance.