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SPXL trade ideas

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
[SPXL/SPX x SPX] SPXL Megaphone Puts SPX Megaphone to Shame!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 peak in the megaphone. Another reason I'm looking for much more downside to come.
AMEX:SPXLShort
by ProfitHarvest
3
SPY, ES, SPX, SPXL LONGIf 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 complex 5 wave correction, all the other elliotitions said it would be a simple B wave... My one mistake, and this is the point of this Idea was attempting to short the 62% Fibonacci correction.... this was when the Market Manipulation really got obvious. I have been trading for 58 years, bought my first shares at age 7... and of course the market has always been manipulated, but usually in the past they were stealthy about it, not anymore... With the Fed (a private bank owned by the Rockefeller, Rothschild, JP Morgans of the world handing out money to hedge funds to pump this baby up, most of the perma bears have left this room bankrupt. Some of this is my colorful way of speaking, let's not quible over the details... the point is they may make minor corrections, but only a fool keeps shorting corrective waves... Think about it the Market moves up and down in a primary trend direction.... look at the NQ, and now the ES and the YM follow... we are going up, most of the time. The two targets on this chart are as good as any... Ever since i quit trying to short I have been making money hand over fist.
AMEX:SPXL
by dryanhawley
1