Seeing bullish MACD divergences on the hourly charts, I believe this first decline is nearly over. On the daily it shows a fairly clean 5 waves down.
I believe there needs to be a 1 or 2 week hope rally before there can be further downside.
That said, I am slightly long SOXL for a short and convincing ride.
I believe there needs to be a 1 or 2 week hope rally before there can be further downside.
That said, I am slightly long SOXL for a short and convincing ride.