FWIW, I watch $SPX all the time.
But I never trade any of its tracking ETFs (whether they are leveraged or not), mainly because I prefer breakout (story) stocks that have a long-term story behind them that pumps them up.
Then, after selecting a stock and going long that stock, I'll virtually always sell weekly Calls against it week after week until assignment (which happens most weeks). If assigned, I'll quickly get back into the stock on a dip and repeat the process.
That whole process lowers overall risk but brings in steady weekly income at a rate that makes it relatively easy to double net invested worth annually.
At this time, my efforts are focused on AAL since it recently tested a multi-year low, yet its story isn't all that bad. Prior to AAL I was trading AMD almost exclusively for many months, but I always go to cash right before earnings release. This last time with AMD I was really happy I did that because this time they got smacked down pretty hard as they lowered guidance.