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Teklologist

SPXL: Wyckoff Distribution to Under $29

Short
Direxion Daily S&P 500 Bull 3X Shares (AMEX:SPXL)  
Teklologist Updated   
AMEX:SPXL   Direxion Daily S&P 500 Bull 3X Shares
Trend Analysis Wave Analysis
10
7
trendanalysis waveanalysis
Sell SPXL or buy SPXS based on Wyckoff distribution with UTAD that began at white vertical dotted line. Given the drop in March, I don’t think we’ll see a new low. However, I suspect price will drop to between $29-$23.
Comment:
Speculative, but looks sexy. If price closes below near daily pivot R3 (not shown but ~$59.55) then price should drop below $44 in the coming weeks.
snapshot
Comment:
Closes near daily pivot R3*
Comment:
Another perspective that indicates a potential target of ~$62 before a pullback.
snapshot
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