That market is absolutely littered with declining wedges (UGAZ, LABD, SOXS, TMF to name a few)!! I thought this was the tastiest and look like it will turn a corner early in trading and begin trading down. I hope everyone shorted gold miners and closed today because they're turning up tomorrow!
Large descending triangle emerging in semi-conductors (SOXS)/technology (TECS)/biotech (LABD) which is a very worrying development. I've shown my favourite one but please check out the others. News has emerged that Trump wants to blacklist Chinese businesses in response to the Hong Kong protests.
SOXX is on the verge of a major breakdown, much like the one that lead to the melt down in Q4 of last year (followed by a ~20% drop after the trend break). However, we are not there yet because we are resting on support. The main, long term pattern we are looking at is a bearish rising wedge. Within the wedge we also have a symmetrical triangle which was entered...
Price tested out of reversal pennant and skyrocketed, then backtested and bounced again. Out and waiting to get in on the next backrest... if there is one
After Trumps tweet of raising tariffs, China's market is temporarily crashing. YANG is a China Direxion Bear X3 ETF. The index is having great gains. I expect it to reverse on Friday 10th / Monday 13th. Analysts still expect the trade to happen between China and USA. At this point consider buying YINN (China Bull X3 ETF). Other X3 ETF's to consider: SOXS...
Decided to get some soxs today. spx run loosing pressure? Will another china tweet push over highs? will tsm lowered guidance inspire investors?
Semis swinging nicely in this range bound pitchfork. Volatility increase near the outer bounds, and we are almost there. Clear 5 wave count to conclude at the long term bullish trend line. This is my short term trade to the downside using SOXS 3x bear, and will reevaluate my next move when this target is hit. There's still a long term bull target on most indexes...
This Semiconductor Short ETF just had a Golden Cross! Long Opportunity? This also tells you where the tech stocks are likely to go!
Short semis more for the pull back if there are any. At least 20-40% more downside ahead before really buying the dip.
You know what to look for. Pretty straightforward.
$amd $soxx $soxl $soxs $nvda I'd love to see AMD back at 9.70-9.90 for the ride back up. Has been a beautiful symmetrical/descending triangle. If it breaks out above in coming weeks/months, expect the price up to 17-19.. before descent back to test breakout level of sym. triangle.
Here is where i would short QQQ. GO short in yellow box and make money my friends.
Semiconductors hit a weekly double top at the same level as the 2000 dotcom crash. I went long SOXS (3x semiconductor bear) and long SDOW (DJI 3x bear) in my 401k right before the market closed yesterday. I got lucky as a bought these right before the Cohn resignation announcement which tanked the futures market. I had also gone short 2 DJI futures. I already...
At some point something has to give. Is now the time?
Could continue higher short term, but I think Friday was a precursor
Market is due a pullback. If it does SOXS should rip