$SOXL Held above 81.17; weekend rebound of 3%
Yesterday, I said to watch whether 81.17 (the 24-hour low at the time) would hold.
Result: the low afterward was only 82.35; it's now at 85.33, up 3.0% over 24 hours.
Funding rate: +0.042%. Longs are paying, and plenty of people are chasing the weekend rally.
Next week's calendar is packed: Wednesday, the Fed's rate decision and Warsh's press conference, followed by Microsoft and Google earnings after the close; Thursday, PCE, GDP, and Amazon and Intel; Friday, the Bank of Japan.
My take: this 3% weekend move is just a warm-up. We'll have to wait until Wednesday night to see which way things go.
Before the rate decision, do you think it will break 85.96 (the 24-hour high) first, or fall back to 82 first?
#USStocks
The above does not constitute investment advice.
Yesterday, I said to watch whether 81.17 (the 24-hour low at the time) would hold.
Result: the low afterward was only 82.35; it's now at 85.33, up 3.0% over 24 hours.
Funding rate: +0.042%. Longs are paying, and plenty of people are chasing the weekend rally.
Next week's calendar is packed: Wednesday, the Fed's rate decision and Warsh's press conference, followed by Microsoft and Google earnings after the close; Thursday, PCE, GDP, and Amazon and Intel; Friday, the Bank of Japan.
My take: this 3% weekend move is just a warm-up. We'll have to wait until Wednesday night to see which way things go.
Before the rate decision, do you think it will break 85.96 (the 24-hour high) first, or fall back to 82 first?
#USStocks
The above does not constitute investment advice.