$SOXL
Added 2024-05-20 15:12:00 +0000 UTCThis chart was doubted a lot and I get it....$AMD, $TSM, $INTC all pulled back aggressively and so did $NVDA but not to the same extend.... but $NVDA appears to have one more leg up, while the others have had their full 0.618 pull backs....so the dynamic looked weird.
Remember a market or a sector ETF is a mean of all the players in the basket.
We can see here that Wave 4 pulled back to the 0.618 Fib and 200 Day MA and has now bounced.....very strongly.
This is a 3 X leveraged ETF too, so if $NVDA smashes it on Weds, I don't see how this does not continue higher for our Wave 5 target.
