Semiconductor SOX Nears All Time High RSI Bearish Divergences !
Perhaps no group in the market is more closely watched
for clues about future technology market direction that the Semiconductor Index (SOX)
The Philadelphia Semi Conductor: Line Break Chart" shows the recent bullish upside breakout,
as the index is now approaching all times highs, perhaps sensing optimism in the trade war talks with China.
However, just like other important major market indices,
the semiconductor index is showing clear important bearish RSI Divergences,
shown here on the long term "Line Break" Chart.
Traders looking for an upside breakout in the SOX ,should consider the consequences of their actions,
as a potential bull trap or technical" false breakout," could be waiting for them on the other side of the trade.
SOX Last 1574.39
THE_UNWIND
10/6/19
NEW YORK
for clues about future technology market direction that the Semiconductor Index (SOX)
The Philadelphia Semi Conductor: Line Break Chart" shows the recent bullish upside breakout,
as the index is now approaching all times highs, perhaps sensing optimism in the trade war talks with China.
However, just like other important major market indices,
the semiconductor index is showing clear important bearish RSI Divergences,
shown here on the long term "Line Break" Chart.
Traders looking for an upside breakout in the SOX ,should consider the consequences of their actions,
as a potential bull trap or technical" false breakout," could be waiting for them on the other side of the trade.
SOX Last 1574.39
THE_UNWIND
10/6/19
NEW YORK