$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Up 6% in today's market. Very bullish. Imagine where this goes when the Nasdaq is up 300 points. Rotation back into semis is happening in real time. Extremely bullish.
$Qualcomm(QCOM)$ SOXL has been stuck in a neutral sideways range for a while. I'm waiting for it to reach the lower Bollinger Band, around the $147 area, before adding more.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ $Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ My SOXX target of hitting at least 560 on the bounce was reached, but the level didn't hold at all. It got rejected near the 50 DMA. Still, the technicals suggest the bias remains to the upside, and we're sitting right at channel support now. Getting past 562 resistance is needed to eventually reach 583, with a chance to test as high as 615 by the end of the month. NVDA earnings, which are due in the last week of the month, could keep semis supported. A lot can change between now and the next 8 sessions, but the technicals do support a higher move from these levels. The cautious part is that
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ It could easily pop to $144 after the open. There is still resistance from the underlying chips until a breakout happens. I'm planning another flip before any rug pull.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ There's no rush, these levels look decent for gaining exposure. But it's going to be slow and steady. Might have to wait alongside gas prices until the strait opens, which could take around 6 months. So we wait.