It is an exciting time where so many people are engaging in a wide range of fitness programs. The number of programs available today is the greatest that it has ever been and everyone can find a program that suits them. Programs based on speed, strength, endurance and flexibility will improve any area of your fitness level through active and consistent participation. Before signing up for that next fitness class some preliminary thought could help making your choice of a suitable fitness program easier and allow you to select a program with sustainability. Those that have made the right choice of fitness programs have reported ongoing benefits including; more energy, vitality and quality of life. Here are a number of areas to consider before choosing a fitness program.o State of Health
o Lifestyle
o Body Type
o ObjectivesState of HealthWhen choosing the right fitness program at any age should include an evaluation and assessment of any health issue concerns at the time. There are various fitness avenues a person can take and each will place different demands on the mind and body. Health issues should be considered when looking at each discipline and how the individual will be impacted by the demands. It is prudent to involve your primary care physician in making a selection so that any health issues may be addressed and a plan of recommendation can be used to make a wise decision. Because there is such a large selection of fitness programs available most limitations caused by health issues which may impose restrictions on an individual can be accommodated. Exercise is basically moving the body and any type of consistent movement is going to provide benefits as a result.Participants in exercise programs who may have joint limitations can select a program with low impact on the joints and receive a whole host of fitness and health benefits. Programs are available at all levels including beginner, intermediate or advanced and can accommodate many individuals with various health issues. If there is a will, then there is a way to meet your fitness goals but it must be done logically and intelligently.LifestyleVarious fitness routines require different levels of activity and assessing which routine fits best into the lifestyle of the participant is an important selection criteria. Fitness is a change of lifestyle which includes the fitness routine merging into the daily activities of the participant. If your lifestyle is moderately active then a fitness routine which promotes moderate levels of energy will be a choice which is better suited for you and has the best chances of being sustained over the long-term. Another fact is the time you have available to devote to a fitness program. Some regimes require more time then others to achieve results. If you have 2 days a week available for working out then look for programs that can accommodate you and still provide timely benefits which are achievable. A mistake many people make is shooting too high at first and selecting a fitness routine completely off the scale in relation to their lifestyle. What they find is they are unable to sustain the regime, get discouraged and discontinue the program. Assess your lifestyle pace and the venue in which you would like to workout. There’s indoor, outdoor, individual and group programs available and you can find one that requires a pace and environment you will enjoy and be able to sustain as part of a healthy and fit lifestyle.Body TypeThe reason that so many exercise and fitness programs have been developed is simply to accommodate the individuals participating in those programs. One of the criteria for selecting a fitness program is body type. Understand that different fitness programs place different demands on the body and require different energy levels from the participants also. Those of a larger stature have gravitated traditionally toward the strength based programs and those of a smaller stature have moved in the direction of the cardio based programs. All these individuals have made what they would consider programs which best suited them. If you ever considered a football team you don’t see the larger linemen body types doubling as wide receivers. Their body types make them more suitable for the pace and demands which are placed on them as linemen. Fitness programs are the same. If you are choosing a fitness program that will best fit in with your lifestyle then your body type is a factor to consider as well. All body types can find regimes that best suit them and are able to provide ongoing health and fitness benefits derived from the programs. Those with higher energy levels are going to select those programs with high energy demands then those with lower energy levels. Programs exist which require short intense energy expenditures and also routines which require longer durations and less intensity. When selecting a fitness program consider your level of energy and the demands the regime or program will place on your energy level.ObjectivesGaining long-term benefits from a fitness program does require setting objectives you want to accomplish from the effort and consistency you put into the regime. Of course many individuals take a less organized approached to fitness and that is alright as long as they are comfortable with that kind of approach. Of course the power of setting goals and moving toward their accomplishment is proven effective for a long time and is recommended. If losing weight, building strength or gaining flexibility are some of the goals to be attained selecting programs which address these areas is made much simpler. Not all programs can deliver all benefits and meet all goals. Many programs specialize in the benefits attained from participation in them. Cardio programs are great for producing weight loss, energy and endurance but are limited when it comes to developing high levels of strength. Weight training would be more suitable if increasing levels of strength is your goal. Whatever program you decide to choose identifying objectives and setting goals will make your choose of program easier and more effective. And whatever program you choose be certain you are capable, the goals are obtainable and participation is enjoyable.

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

Summary
SPDN is not the largest or oldest way to short the S&P 500, but it’s a solid choice.
This ETF uses a variety of financial instruments to target a return opposite that of the S&P 500 Index.
SPDN’s 0.49% Expense Ratio is nearly half that of the larger, longer-tenured -1x Inverse S&P 500 ETF.
Details aside, the potential continuation of the equity bear market makes single-inverse ETFs an investment segment investor should be familiar with.
We rate SPDN a Strong Buy because we believe the risks of a continued bear market greatly outweigh the possibility of a quick return to a bull market.
Put a gear stick into R position, (Reverse).
Birdlkportfolio

By Rob Isbitts

Summary
The S&P 500 is in a bear market, and we don’t see a quick-fix. Many investors assume the only way to navigate a potentially long-term bear market is to hide in cash, day-trade or “just hang in there” while the bear takes their retirement nest egg.

The Direxion Daily S&P 500® Bear 1X ETF (NYSEARCA:SPDN) is one of a class of single-inverse ETFs that allow investors to profit from down moves in the stock market.

SPDN is an unleveraged, liquid, low-cost way to either try to hedge an equity portfolio, profit from a decline in the S&P 500, or both. We rate it a Strong Buy, given our concern about the intermediate-term outlook for the global equity market.

Strategy
SPDN keeps it simple. If the S&P 500 goes up by X%, it should go down by X%. The opposite is also expected.

Proprietary ETF Grades
Offense/Defense: Defense

Segment: Inverse Equity

Sub-Segment: Inverse S&P 500

Correlation (vs. S&P 500): Very High (inverse)

Expected Volatility (vs. S&P 500): Similar (but opposite)

Holding Analysis
SPDN does not rely on shorting individual stocks in the S&P 500. Instead, the managers typically use a combination of futures, swaps and other derivative instruments to create a portfolio that consistently aims to deliver the opposite of what the S&P 500 does.

Strengths
SPDN is a fairly “no-frills” way to do what many investors probably wished they could do during the first 9 months of 2022 and in past bear markets: find something that goes up when the “market” goes down. After all, bonds are not the answer they used to be, commodities like gold have, shall we say, lost their luster. And moving to cash creates the issue of making two correct timing decisions, when to get in and when to get out. SPDN and its single-inverse ETF brethren offer a liquid tool to use in a variety of ways, depending on what a particular investor wants to achieve.

Weaknesses
The weakness of any inverse ETF is that it does the opposite of what the market does, when the market goes up. So, even in bear markets when the broader market trend is down, sharp bear market rallies (or any rallies for that matter) in the S&P 500 will cause SPDN to drop as much as the market goes up.

Opportunities
While inverse ETFs have a reputation in some circles as nothing more than day-trading vehicles, our own experience with them is, pardon the pun, exactly the opposite! We encourage investors to try to better-understand single inverse ETFs like SPDN. While traders tend to gravitate to leveraged inverse ETFs (which actually are day-trading tools), we believe that in an extended bear market, SPDN and its ilk could be a game-saver for many portfolios.

Threats
SPDN and most other single inverse ETFs are vulnerable to a sustained rise in the price of the index it aims to deliver the inverse of. But that threat of loss in a rising market means that when an investor considers SPDN, they should also have a game plan for how and when they will deploy this unique portfolio weapon.

Proprietary Technical Ratings
Short-Term Rating (next 3 months): Strong Buy

Long-Term Rating (next 12 months): Buy

Conclusions
ETF Quality Opinion
SPDN does what it aims to do, and has done so for over 6 years now. For a while, it was largely-ignored, given the existence of a similar ETF that has been around much longer. But the more tenured SPDN has become, the more attractive it looks as an alternative.

ETF Investment Opinion

SPDN is rated Strong Buy because the S&P 500 continues to look as vulnerable to further decline. And, while the market bottomed in mid-June, rallied, then waffled since that time, our proprietary macro market indicators all point to much greater risk of a major decline from this level than a fast return to bull market glory. Thus, SPDN is at best a way to exploit and attack the bear, and at worst a hedge on an otherwise equity-laden portfolio.