SPXL: Wyckoff Distribution to Under $29
Sell SPXL or buy SPXS based on Wyckoff distribution with UTAD that began at white vertical dotted line. Given the drop in March, I don’t think we’ll see a new low. However, I suspect price will drop to between $29-$23.
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Speculative, but looks sexy. If price closes below near daily pivot R3 (not shown but ~$59.55) then price should drop below $44 in the coming weeks.
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Closes near daily pivot R3*
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Another perspective that indicates a potential target of ~$62 before a pullback.