VPA Signals On The DXY, Indices & SOXL
Volume price analysis signals and potential set-ups appear across all markets and time frames, and in this recording from our recent webinar David & I consider the DXY (index for the USD), the indices, and how rising prices, falling volume, and key resistance from the volume point of control is likely to halt the recent bounce. And finally, a look at the SOXL, a triple leveraged ETF that tracks the ICE Semiconductor Index. One of my Twitter followers brought it to my attention as he had spotted a significant anomaly on the weekly chart. Any triple-leveraged ETF is, by definition, risky, but the volume involved is huge, and the ETF is also very liquid. My take is that whilst it was a great signal, we should always consider it in the context of support and resistance, particularly on a slower timeframe which, in this case, is the monthly chart. And it’s interesting to see that since the webinar, SOXL is approaching the key support on this timeframe.
VIdeo Length: 00:32:21
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