NASDAQ:SOX   Philadelphia Semiconductor Index
I have no problem with bold predictions, reversals I do well. SOX has historically led out of the gates on reversals. SOX has broken the downtrend, and successfully tested a Gartley retrace. While we still have an Ichy cloud resistance overhhead, I believe the market bottom is in. Will there be another selloff? Likely. However, I believe a new market bottom lower than the October low in SPY is unlikely. We also have financials (XLF) and Industrials (XLI) showing a similar trend reversal. So lets pull for more green shoots.
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