JustCharts

SPXL - Feb 11th Tech Analysis on 1hr trend lines - bulltrap?

AMEX:SPXL   DIREXION DAILY S&P 500 BULL 3X SHARES
SPXL             - S&B Bull Triple Bull Trading Instrument - Feb 11th Tech Analysis

The SPXL             is the S&P             triple bull. It could be argued that it provides a magnified view of the S&P             as it is leveraged on the bull side with SPXS             providing the counterbalanced bear trading instrument. The December and January trend lines provides a clear view of the magnificent bull run which was broken on January 30th 2018. The higher highs, higher lows trend was broken without a doubt.

The pullback was to be expected. Support levels at $51.40 were tested during a few trading periods and broken on Feb 2nd 2018 down to $50.84 which gave the bears control.

The bearish trends lines are now established with lower high, lower lows. At times, we are seeing a surge in bull activity although unless the bulls can break the pattern this week, we can expect the bears to continue the savage, but well needed, pullback.

It important to note the volume on bearish days is significant and the volume on bullish days indicates that bulls are more timid and undetermined than bears. Unless the bulls on the S&P             can return on Monday and Tuesday with conviction, this 1 hour trends charts on the SPXL             seems to indicate SPXS             might be the trade to consider for February 12th 2018
交易开始: Unsurprising show of strength by bulls this morning continuing from late Friday. Hitting downtrending trendline. Unless bulls can puncture that with conviction, the 1 hour bullish candles aren't confirmed, neither are the 4 hour candles. Trade with care here, so far, it appears to be a bulltrap. We need to break that downward trend line to feel comfortable on SPXL. Sidelines for now. Conditions are just too volatile to have convictions either way. SPXS as seen this morning can be too difficult to trade IMHO.
Great review. Is there a support you are suggesting? maybe one more day drop? it looks like support might have been around that 37$ mark though. thoughts????
回复
JustCharts jarroddewan101
@jarroddewan101, look at my commentary on SPX, 2500 S&P will be the next big support but I haven't converted to what that is on SPXL support / SPXS resistance.
回复
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的支持通知 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出