AMEX:SOXS is trying to tell us that it's time to hedge our semi positions. I'm looking for a full candle close over 13.92 for final confirmation and to anchor my fib time zone from the summer lows
what's the lowest do you think it can drop before reversal to the upside, in the short-term?
Ben_1148x2
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@lgonz13, the market seems encouraged by the updates from the fed and treasury this week. We may have started a rally through EOY, or it might pop a little until we are derailed by other geopolitics. I'm going to wait until I see SOXS put in 2-3 consecutive closes above 13.92 before counting on further downside for semis.