$SOXL
Added 2024-08-26 13:01:31 +0000 UTC$SOXL has dropped hard from $70 to $23, in a very abrupt drop
So there are two scenarios here at play
1. I have white circled an area that is potentially Wave B and Wave C has completed in between the 0.618 - 0.78 Fib at $23
or
2. We are still in Wave B now and we could get a bounce up to the 50 Day MA at $48.50 to complete Wave B, before moving down to complete Wave C.
We need more price action to determine which direction this will go in.
Holding above the 50 Day MA and I believe Wave C is complete
Also a lot will come down to how $NVDA reports this week too.
Comments
for me the drop down looks like 5 waves. so i believe we are done with the ABC correction. im looking at the chart later today to find entries.
Marco
2024-08-26 14:37:10 +0000 UTC
