SOXL is still around 144.5, same attitude—watching, not chasing.
After it was pulled up from 139, the price has just been churning in the 144 to 145 range. The 24-hour high of 146.7 can’t be reached anymore. Both the daily and four-hour trends are pushing downward, and the rebound momentum is clearly fading.
The main issue is the active buy order side. On the contract side, the share of active buying has dropped to only 38%. In those 7 hours, the amount of active buying shrank by a third. The sellers are pressing down on the buyers. In plain terms, this rebound isn’t because nobody is selling—it’s because not many people are willing to take bids at the highs.
Open interest is steady, and the funding rate is pinned near zero, with no panic squeeze from the longs. Large-holder accounts are still more than 60% net long, but the number of accounts is declining, suggesting some capital is stepping out first and standing by to observe.
The key is whether momentum can pick back up. To move higher and open up space, it needs renewed volume. Pulling back to the support/acceptance level would be a more comfortable entry point. At this level now, the trend hasn’t broken, but the risk-reward for chasing is mediocre.
My stance: continue to stay on the sidelines and don’t chase. Wait for a pullback to confirm, or for volume to pick up again, then decide on direction.
#soxl $SOXL
After it was pulled up from 139, the price has just been churning in the 144 to 145 range. The 24-hour high of 146.7 can’t be reached anymore. Both the daily and four-hour trends are pushing downward, and the rebound momentum is clearly fading.
The main issue is the active buy order side. On the contract side, the share of active buying has dropped to only 38%. In those 7 hours, the amount of active buying shrank by a third. The sellers are pressing down on the buyers. In plain terms, this rebound isn’t because nobody is selling—it’s because not many people are willing to take bids at the highs.
Open interest is steady, and the funding rate is pinned near zero, with no panic squeeze from the longs. Large-holder accounts are still more than 60% net long, but the number of accounts is declining, suggesting some capital is stepping out first and standing by to observe.
The key is whether momentum can pick back up. To move higher and open up space, it needs renewed volume. Pulling back to the support/acceptance level would be a more comfortable entry point. At this level now, the trend hasn’t broken, but the risk-reward for chasing is mediocre.
My stance: continue to stay on the sidelines and don’t chase. Wait for a pullback to confirm, or for volume to pick up again, then decide on direction.
#soxl $SOXL
