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the_sunship
Aug 24, 2023 1:57 PM

Semis to bottom of channel - SOXX Short

iShares Semiconductor ETFNASDAQ

Description

The SOXX (semiconductors) ETF has been playing around with this channel for almost a year. Price broke down back into the channel recently (bearish) and with NVDA earnings we tested the top of it again. My guess is it goes back to the bottom of the channel and any bounces should be a good selling opportunity. Any higher than 518 and this idea will be invalid - good luck!

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soxx back to channel again.
Comments
rock1986
there is a gap fill at the bottom of the channel as well
the_sunship
@rock1986, the bigger picture is this ETF likely gets cut by half at some point (blue line at bottom).
rock1986
@the_sunship, I am so waiting
rock1986
Time to short?
the_sunship
@rock1986, well it's a good entry to try one
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