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SPXL

spx run up at gap close may fail (spxl)if we dont break 133.33 confidently, and confirm 15 min reversal pattern with a lower low 131.85 this may signal overheated conditions in spx should we keep the uptrend holding 130.69 and continuing higher i imagine we have a go at 135, although id still be wary of buying borader markets right now except for a quick flip if we dont hold 130 and cant get back over 130.66 we will probably see 127.66 again soon volatility comes in waves the odds we close up at the highs are low but if we do theres a good long in it
AMEX:SPXL
by cerealtrades
Todays Price Action and Thoughts for Next Week One a sleepy Friday in July the market that was up pre-market sold off fairly significantly So what happened? Look at the Fibs marked with yellow arrows and you can see all part of the plan. We arrived at the .50 Fib just before the open and ended at the 2.0 Fib (not a real fib numbers) Currently price is inside of a triangle that will broken - it is balancing for a bigger move. That said this looks like a double bottom over a multi-day period. For us to reach the bottom of the triangle we will get to the 2.272 Fib - most likely this will bent or even broken to clean up the VPOC at 4291 Lately the Market Movers have decided to use a fib number between two obvious levels to make a turn - looks random but its not, either a .61 or .50. Ironically the 4300 level is the buy - but truly who knows exactly, best to wait for a a couple of 15 minute candles to confirm. There are VPOCS at 4291 and 4229 - these may or may not be target this upcoming week. Mind your risk! Fed hasn't turned off the spigot so no reason to become negative - and while I hate to say it, because it seems nonsensical, buy the dip. Its better deal than was on Wednesday :P
CME_MINI:ES1!
by Maximilianned
SPXL - Not normal at all!-As we all know, COVID-19 was a hard period of time full of uncertainties. While many of us were scared that the market will maintain a bearish run for a good amount of time and that the effect of the Pandemic will show its negative effects throughout the years as the economists predicted too, the Market showed us a totally different scenario. Both the SP500 and Nasdaq had a tremendous rise during the pandemic and the market was nothing but all green and positive. For the beginner investors who started investment with the help of social media and some research added on the positivity and for a period of time, it felt like no matter where you put your money it turned green in the next couple of days! But here we are, the harsh reality time has come. Now it is the time for the bubble to pop and for the stocks to go back to the normal way of performance rather than having an "Always Rising" state. -Okay yeah the market is a bubble but so what? Can't it be the new normal? Why do we think that things are going to go bad soon? Because of the following facts dear ladies and gentlemen! Fact # 1: The well-known Buffet Indicator shows us the ratio of total US stock market valuation to GDP. Named after Warren Buffett, who called the ratio "the best single measure of where valuations stand at any given moment". Currently, the ratio has passed the levels of "over-valued" and it has officially entered the "Strongly over-valued" levels. We are currently standing at the levels of the popular Internet Bubble. While the Internet Bubble popped at +67% the current level of the indicator is standing at +88%. It is a brainer, we are rising at a very abnormal speed, and the state of the economy is not that positive. Fact # 2: Level of Corporate Debt. According to the research that the popular McKinsey has done, the Global debt has grown from $97 trillion to $169 trillion since the crisis but has been stable relative to world GDP. It is bad. Fact # 3: Levels of money printing are at their highest highs. At this point, FED can either keep printing to sustain the green state of the market, or at a point if they stop printing (cancellation of stimulus paychecks, unemployment paychecks, COVID affected interest-free small-business loans) then things will definitely fall apart.
AMEX:SPXLShort
by caldooninvestment
21
SPXL - Corrective Rising Wedge!-SPXL has successfully formed a corrective rising wedge that looks pretty bullish! -Past week's FOMC meeting also gives us some positive expectations. -They expect a decrease in: Unemployment rate: 4.5 (2021), 3.9 (2022), 3.5 (2023) PCE inflation rate: 2.4 (2021), 2.0 (2022), 2.1 (2023) -They also expect a decrease in GDP from 6.5 (2021) to 2.2 (2023). This part keeps us conservative as it shows that upcoming years will be tough and we all will need to keep a tight stop-loss on our investments. -For now, SPXL looks pretty bullish! As long as it stays between the lines of the Wedge, it has a potential to rise to resistance level @ 85.
AMEX:SPXLLong
by caldooninvestment
31