$Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ ...

you take a look at this chart this is the weekly and you see the trend has been declining since July. it has not crossed It's weekly moving average this entire time. $33.80 is the magic number

if we can cross that middle moving average that purple line you will see institutions coming back in you will see people that were short cover their positions.

so that's the line in the Sand that's going to change the trend for this basket is 33.80 it needs to go through that and close at the high of the day so 34 and a 34 and a quarter it needs to not trade through it and fail it must close above that moving average