Volume Price Analysis Signals On DXY, Indices and SOXL

2022.10.11 19:29

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Volume price analysis signals and potential set-ups appear across all markets and timeframes. In this recording, we consider the , the indices and how rising prices, falling volume and key resistance from the volume point of control is likely to halt the recent bounce.

We also take a look at Direxion Daily Semiconductor Bull 3X Shares (NYSE:), 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 while 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.

It’s interesting to see that SOXL is approaching the key support on this timeframe.

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