$VanEck Semiconductor ETF(SMH)$ +1.5% $617.83 $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ +4.1% ~$154 | Long $111.50 (Sep 4) +$42.50 / +38.1%. Full size. No trims. Stop trailed to $127.8. $600.50 was last week's break. Another day holding above it now: low $607.25, close $617.83. Path from here is the prior highs, $650–$672. The 50MA under price started curling up this week. That is the new tell. RS ratio +8.5%, first reading like that since June. Momentum leading at +16.2%, not seen since April. Volume on the dry side. Holding above $600 matters for momentum. Holding above $580 matters for the trend.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Bear math: it just can't keep going up. No fundamentals. No reasoning. Just the idea that it can't keep going up. Well, you clearly haven't traded Direxion ETFs much. I've watched $Direxion Daily Junior Gold Miners Index Bull 2X ETF(JNUG)$ spike from $100 to $200 in a single day. TECL went from 50 to over 200 in a month. SOXL recently moved from 90 to 150 in less than 2 weeks. If AI is overextended, don't you think TECL would be down the hardest? The messages I get are fuel to this fire. SOXL $200 and SOXS back to the teens and under. Nobody buying SOXS is making money.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 141.75Reclaimed VWAP, pulled back to touch it, and now bouncing hard again, already pushing toward green. Acting squeezy. DRAM names like SK Hynix, MU, and SNDK are running hard. Had been waiting for MU to finally make a move. Just wish it had waited for the premarket session, since I only have one account with overnight access.
$Microsoft(MSFT)$ Price is moving inside an uptrend channel and getting close to the supply zone. From here, a push higher into supply still looks likely. If supply rejects, that could set off a move to the downside. Bias: bullish toward supply, with some downside risk right at the zone. $Intel(INTC)$ $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 141.32Chips are still weak, with SOXX down 12.79 to 559.89 and QQQ off 0.9%. The only thing circulating is more talk that an AI slowdown is needed for safety. To me this is all FUD — nobody is slowing down for nothing. MU earnings are due Wednesday.
Stocks had a strong session Monday as oil prices dropped and AI-related enthusiasm picked back up. Tech led the rally, while Bitcoin moved higher too and added to the broader confidence in the market. Attention is now on the upcoming Trump-Xi meeting, especially around trade and AI developments, though higher interest rates and Middle East tensions remain risks. Overall, sentiment looks bullish given the tech momentum, lower oil prices, and gains across the major indexes. $ProShares Ultra Bloomberg Crude Oil(UCO)$ $Invesco QQQ(QQQ)$ $ProShares UltraPro QQQ(TQQQ)$ $Direxion Daily Semiconductors Bull 3x Shares(
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ I'm holding 127 calls for both the 9/21 and 10/2 expirations, along with my shares. The next major resistance level looks like 150-160. Hopefully we can push higher from here.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 1067.81Up 2.86, or 2.8%, after an opening pop. It has been pulling back since, but on low volume. I'm waiting to see the selling stop, and then there might be another move back up. A lot of the movement is just tracking SKHY, which is also pulling back. So once those memory chips stop pulling back, I'd look for a bounce. They're annoying, but they're the main source of volatility in SOXL, so you have to keep an eye on them.