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Yesterday, on an uptick in volume, the Direxion Daily Semiconductor 3x Bull ETF (SOXL) formed a bullish reversal candle. SOXL gapped down at the open, undercut its 10-day and 200-day moving averages but by the closing bell had almost reclaimed both key marks. Further, SOXL closed near session highs. A move above yesterday’s high of $36.62 could provide a buy entry for this ETF. We are placing SOXL on the watchlist. Trade details are posted in the watchlist section of the newsletter.

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