$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 5% position here. From this level, I think the target could be 20%. Keeping an eye on it. Indexes are all super green right now, and you can hear the "rate hold" narrative starting to build.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ The same algo pattern showed up in March this year. It was followed by a huge spike. The crash up is the new crash for this market. It doubles down rather than pulling back.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ The setup does look like it wants to move higher, since dip buyers have been getting rewarded for buying weakness. But higher oil prices may keep a lid on things for now.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 114.76+3.1 +3.1%. This is turning into a nice overnight run. SOXL has already recovered more than 50% of Friday's nasty drop, and at this rate it might even get back to Friday's high of 121.20, which would be impressive given how rough Friday was. Worth remembering that Monday is end-of-month, so moves could be crazier than normal.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Honestly, this has been the best ticker in the market to day trade this year. I only wish I had figured it out sooner. And it's not just because it's a 3x ETF - I've played plenty of those - it's because the IV gets jacked here so easily, which makes selling options absolute gravy. You don't have the insane risk of holding a single ticker like $Micron Technology(MU)$ , but you can still get the rewards.
Warsh's Jackson Hole speech is set for 9AM CDT. He's said more than once that he'd rather talk about where the economy currently stands than give any future signals. To market makers, though, this looks like a chance to stir up volatility and profit from it. My initial take is that USD and US bond yields could get choppy, and that might lead to sharp swings in gold, silver, BTC, and the broader market. As for how I see it playing out, Warsh isn't the type to hint at what's next, so I'd expect any volatility to be mostly manufactured by market makers and high frequency trading. That's why I'm looking at reversal setups on extreme moves in either direction. $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ