SPXL

SPXL is in a Stage 4 corrective phase characterized by a Bearish Pivot Point and a breakdown below the 50 SMA and short-term EMAs. Price trades below declining EMAs, reinforcing a bearish medium-term bias. However, extreme oversold conditions caution against immediate selling into this weakness. We will defer and look to trim into relief rallies toward the EMA and 50 SMA resistance zone for higher-probability execution.

• ↑Surge of ~8.7% over past two weeks, broke upward trend Aug 4.
• ↑MACD turned positive and momentum >0, historically driving 89% bounces.
• ↓RSI of 63.9 indicates overbought, raising pullback odds.