$SOXLB just lost $87 — and the tape says the flush isn't done arguing.
The $87.38 line was the floor everyone watched after this morning's sequel. It broke on the 14:00 UTC candle ($92.69 → $85.26 low), then 15:00 UTC printed the day's biggest volume bar ($7.78M) dragging it to $83.60, and 16:00 UTC tagged a fresh low of $82.47. Live $83.94 — down 19.2% on the day.
This is 3x leverage working in reverse. SOXL lost ~15% in the cash session on the chip massacre — TXN's beat-and-raise got sold, LRCX dropped 10% on a supply-chain guide cut, the SOX index sank 5%+. The tokenized 3x version turned that into -19%. The same selloff sent the bear-side $SOXSB up 20% today. Mirror image.
Both sides, honestly: the cash session is closed, so tonight's Asian tape decides whether $82.47 holds or this bleeds into tomorrow's open. A reclaim of $87.38 would be the first sign the flush is exhausting — but 3x daily leverage decays by construction, so every chop day costs the holder whether chips bounce or not.
Is $82.47 the floor, or just a rest stop on the way down?
The $87.38 line was the floor everyone watched after this morning's sequel. It broke on the 14:00 UTC candle ($92.69 → $85.26 low), then 15:00 UTC printed the day's biggest volume bar ($7.78M) dragging it to $83.60, and 16:00 UTC tagged a fresh low of $82.47. Live $83.94 — down 19.2% on the day.
This is 3x leverage working in reverse. SOXL lost ~15% in the cash session on the chip massacre — TXN's beat-and-raise got sold, LRCX dropped 10% on a supply-chain guide cut, the SOX index sank 5%+. The tokenized 3x version turned that into -19%. The same selloff sent the bear-side $SOXSB up 20% today. Mirror image.
Both sides, honestly: the cash session is closed, so tonight's Asian tape decides whether $82.47 holds or this bleeds into tomorrow's open. A reclaim of $87.38 would be the first sign the flush is exhausting — but 3x daily leverage decays by construction, so every chop day costs the holder whether chips bounce or not.
Is $82.47 the floor, or just a rest stop on the way down?