$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ A shallow pullback that holds the psychological 150 level looks like a high conviction continuation setup, with the next target being a clean break of the 152.50 wall.
The market is looking extremely bullish right now, with the Nasdaq up more than 2%, Bitcoin pushing higher, and major tech names like $Meta Platforms, Inc.(META)$ , $Advanced Micro Devices(AMD)$ , and Intel showing strong momentum. What makes this move interesting is that there doesn't seem to be one clear catalyst behind it, though the 10-year Treasury yield falling below 5% could be helping sentiment even with the continued uncertainty around oil prices and geopolitical tensions. A lot of these names are already technically overbought, so I wouldn't want to chase at elevated levels, but I also wouldn't try to call the top and short too early while momentum stays this strong. I'm staying patient