SPXL Megaphone pattern is broader and what's worse is that Price only made it just over HALFWAY back up rather than all the way back to the top again as SPX achieved.
Now SPXL Price is barely hanging on at dead center of the Megaphone and the trend here is overwhelmingly more BEARISH than the SPX trend would suggest.
I pegged these two starting from the first...
When this thing breaks Mon or Tues, we're supposed to get some upside reversal movement but that won't last for long.
Will make for another good short entry point here before it continues heading down through October.
Still in it's infancy but we got the start of our SPXL trading range and Treasure Map.
Targeting at least magenta $42 line here before even considering any longs.
Solid chance we'll get down close to bottom of this megaphone in long run before any new ATHs.
Just look at this massively oversold market.
At 3x leverage the Bulls have entirely chickened out of the market to an astonishing degree.
One of the best data points I've found for the dead cat bounce case.
While SPX was setting ATHs, SPXL was setting dramatically LHs.
Finally found the ideal market to long SPX with UVXY profits when the time is right B).
look at the Stochastics, extreme overbought sell still in effect. Let me find the chart in the right timeframe.
My shorrts are nearing the Camirilla Pivots weekly R$ my trading plan is not disionary, I must take profits soon i think.
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.
This is LEVERAGED. I am just drawing what I see. I would never buy leveraged anything on an up day
Many do not like to trade using leverage
It can go up or down considerably in one day. Very dangerous especially if you hold on to it. This is up today but could be down 5 dollars or more tomorrow if SPY has a bad day.
I own a little bit so it does not make or...
If you have been around here for 3 or 4 years you will recall me declaring 2018 a 4th wave correction, and we went down for a year, then I said we would go up for a final 5 elliot waves, and we did. If you have been around 1
year you will recall my shorting the exact 5 minute candle last February when we went down hard and fast. then up on what I said would be a...
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