We have 3 reasons to here
1. There is a megaphone pattern almost finished (A).
2. A broadening wedge is forming at a high level (B).
3. Another broadening wedge is nearing completion (C).
So, what I think is that Trump will announce something interesting to end the commercial conflict with everyone.
We will see a market recovery period and a new high.
Right now it looks bad, but it's not too bad.
SPXL trade ideas
Opening (IRA): SPXL March 21st 154 Covered Call... for a 151.04 debit.
Comments: Selling the -84 call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. (In all honesty, this is just an attempt to keep my theta/net liquidity ratio above .05, which is kind of the minimum of where I like to have it).
Metrics:
Buying Power Effect/Break Even: 151.04/share
Max Profit: 3.96
ROC at Max: 1.96%
50% Max: 1.98
ROC at 50% Max: .98
Opening (IRA): SPXL April 17th 148/October 17th 85 LCD*... for a 56.84 debit.
Comments: Looking to be a little bit more buying power efficient here ... . Buying the back month 90 delta and selling the front month that pays for all the extrinsic of the long.
Metrics:
Buying Power Effect: 56.84
Break Even: 141.84
Max Profit: 6.16
ROC at Max: 10.84%
50% Max: 3.08
ROC at 50% Max: 5.42%
Will generally look to take profit on the setup as a unit at 50% max, roll short call out at 50% max.
* -- Long Call Diagonal.
SPXL , 2025 Trades LOG Just noting all my price action entry's and exits in the comments at the end of every day and result , perhaps a logic explanation too on why I bought or sold ....
This or TQQQ is a great alternative to something like futures that is much more scalable .
My goal is to update this every day as a log .
All trades taken on 5M , price action trades , not indicators , except volume .
SPXL - SPX - Were not done yetOn the SPXL I can see using TA plus fibs that it looks like another leg up is coming. Usually things don't top at the 1.4 fib but continue to the 1.618 fib. Doomers are out in full force which happens at every local bottom. Yes we are getting up here but doesn't mean we can't go higher yet and looking at my TA in addition to other stocks they all look bottomed out and ready for a move higher to keep the bull trend in tack. Yes yields are moving higher but stocks have moved higher with yields before... I don't see a top till end of January at earliest but learning more towards March/April. If BTC can continue up from here that would cement that timeframe for me. Lets see what happens.
SPXL bouncing at .618 & .5 retrace area BOUNCE?MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom of channel (periods 52 39 & 26)
Stochastic Momentum Index (SMI) near oversold level
VBSM popped negative
Price at near.618 and .5 Fibonacci level
In at $159.7
Target is $173 or channel top
Stop loss is $153
Long SPXL @ 140 Target 175Look daily chart holding the 100 day ma
look stoch on bottom turning up
Vol need watch not good more selling buying
watch next few days. It going to be volatile going into election
as we head higher with sell offs do not get scared out longs on these pull backs. Look how we gave half that back like chart said it would good swing trade long know. Have trailing stop in place. Will add when we get above the 50 day ma 147.10
weekly distribution gainthe daily market may top out again, but for now as long as we are above VAH consolidation levels the reversal trend may remain intact.
the ability of this market to recover fully is still very much in question, but for now the daily levels in major equities are reading a technical squeeze.
the daily trend could still retrace to VAH, and very well may sell off POC or 4hr value gap areas according to market structure.
short SPXLsince its leveraged taking small target
patterns 1 to 5 have completed, while ABC correction is in progress according to Elliott Wave Theory. The impending downtrend is likely due to profit-taking amidst overbought conditions, coupled with weakening investor sentiment and potential market corrections, signaling a short-term bearish outlook.
SPXL 2HR Return to MeanLooking like this next couple of weeks can be green again. Following that I do expect November and December to be bearish for the SPX indices. Good Luck!
SPXL SPXS. The Direxion Daily S&P 500® Bull and Bear 3X Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the S&P 500® Index. There is no guarantee the funds will meet their stated investment objectives.
SPXL: Bearish Deep Crab with PPO Confirmation at HOP LevelThis is the 3x Leveraged ETF for the SPY, and at the moment we have a 3 Line Strike with a PPO Confirmation Arrow at the HOP level of a Bearish Deep Crab with Bearish RSI Divergence.
If this plays out, I think the SPXL will at least make a 0.618 Retrace of the range, but it could go as deep as 100% or even more.
SPXL - Rising Trend Channel [MID -TERM]🔹POSITIVE signal from the rectangle formation by a break up through the resistance at 86.23 and next resistance 113.
🔹Between support at 75 and resistance at 95.
🔹Technically positive for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
SPXL - Breakout Ceiling of Falling Trend Channel- SPXL has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate.
- SPXL is moving within a rectangle formation between support at 62.45 and resistance at 83.75.
- A decisive break through one of these levels indicates the new direction for the stock.
- The stock has marginally broken up through resistance at 75.00.
- Overall assessed as technically neutral for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN
Verify it first and believe later.
Are we about to make a measured move higher?Of course this is a leveraged ETF, but the underlying indexes, SPX, and futures, /es both look the same. The context is as follows:
I looked for previous years where the S&P500 had a large drop, and then formed a flat top wedge over the coming months. I found 3 instances that you can see annotated in the charts.
If you examine these formations you will see that in each instance the Index broke out and made a measured move upwards.
What is a measured move? Measure the thickest part of the wedge to get a % gain. When the underlying security breaks out of the narrowest part of the wedge it will often move the same percentage upwards.
In our current scenario we have made a 50% move this year in SPXL and formed a flat top wedge pattern. If this pattern can be broken to the upside another 50% gain will take us up to a price target of119+/-
There is still a wall of worry out there, and anything could happen, so take this with a grain of salt.
Stay tuned for further updates...........