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SPXL

spx run up at gap close may fail (spxl)if we dont break 133.33 confidently, and confirm 15 min reversal pattern with a lower low 131.85 this may signal overheated conditions in spx should we keep the uptrend holding 130.69 and continuing higher i imagine we have a go at 135, although id still be wary of buying borader markets right now except for a quick flip if we dont hold 130 and cant get back over 130.66 we will probably see 127.66 again soon volatility comes in waves the odds we close up at the highs are low but if we do theres a good long in it
AMEX:SPXL
by cerealtrades
Todays Price Action and Thoughts for Next Week One a sleepy Friday in July the market that was up pre-market sold off fairly significantly So what happened? Look at the Fibs marked with yellow arrows and you can see all part of the plan. We arrived at the .50 Fib just before the open and ended at the 2.0 Fib (not a real fib numbers) Currently price is inside of a triangle that will broken - it is balancing for a bigger move. That said this looks like a double bottom over a multi-day period. For us to reach the bottom of the triangle we will get to the 2.272 Fib - most likely this will bent or even broken to clean up the VPOC at 4291 Lately the Market Movers have decided to use a fib number between two obvious levels to make a turn - looks random but its not, either a .61 or .50. Ironically the 4300 level is the buy - but truly who knows exactly, best to wait for a a couple of 15 minute candles to confirm. There are VPOCS at 4291 and 4229 - these may or may not be target this upcoming week. Mind your risk! Fed hasn't turned off the spigot so no reason to become negative - and while I hate to say it, because it seems nonsensical, buy the dip. Its better deal than was on Wednesday :P
CME_MINI:ES1!
by Maximilianned