Bottom in SOXL is in?

Updated
Arguments pro a bullish scenario in SOX / SOXL:
  • We have reached the 78.6 % fib retracement in SOXL
  • According to the seasonal chart from the last ten years (see the SEASONAX screenshot at the top), in 9 of 10 cases the SOX had made a bullish move from the 17th of May until the 8th of June
  • At some point, the semiconductor shortage must affect the prices ...


Contra arguments:
  • DXY is rising / interest rates are going up
  • ... anything else?


I can't see any significant arguments standing against the bullish case in SOXL. If you have anything - please drop a comment below!
Trade active
Seems like SOXL as well as SOX has made a double-bottom, which could be the major trend reversal.
Trade closed manually
Okay, the low is still to find.
bottomingEconomic CyclesFibonacciFibonacci RetracementSeasonalityseasonality-tradingseasonaltendenciesseasonaltradesemiconductorsemiconductorssemiconductorshortageshortage

Disclaimer