SOXL may be flying, but the funding rate staying near neutral suggests this rally isn’t being driven by aggressive long positioning. A large part of the move could simply be short sellers covering their positions.

The bigger picture still depends on U.S. monetary policy. Easier liquidity could keep the momentum alive, while tighter financial conditions may quickly drain buying strength. If the broader market, especially SPY and QQQ, fails to confirm the move, SOXL could become one of the most volatile names on the way back down.

Enjoy the momentum, but don’t mistake every sharp rally for the start of a lasting bull market.
$SOXL
$JOE
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