Le-Loup-de-Zurich

SOX : Trendline to watch!!!!

Short
TVC:SOX   PHLX SEMICONDUCTOR
Trendline to watch!!!!
Indeed, the “SOX” semiconductor index, known as a leading indicator, seems to be showing signs of weakness. Although it has returned to its uptrend line, we can still be wary of Wolfe waves which indicate a possible breakout. Not to mention that major components like “Intel” or “Nvidia” are either very high and overvalued (Nvidia), or have experienced a fairly phenomenal series of consecutive increases (Intel). Breaking the uptrend could be a negative signal for technology and especially for the market as a whole.
Comment:
still valid
Comment:
still valid

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.