This chart strives to setup a trading plan where the SOXS and SOXL
are oscillated. They are 3X leveraged ETFs with great range.
SOXS was up 400% YTD at its peak. The new CHIPS
ACT is a catalyst for US semiconductor manufactures
Right now the ratio is on a downtrend, meaning Sell SOXS
or BUY SOXL or a combination of each.
I believe that this...
This is leveraged and volatile. This will go down three times the up move if we have a good market day for semiconductors.
Getting in at a good price is paramount.
Price has broken the upper trendline for now. There is also a double bottom.
Price is not quite overbought with RSI on 80 versus 70.
Price is over the top Bollinger bands.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...
PSQ/QQQ, FAZ/Financials, SOXS/Semiconductors, NAIL/short homebuilding, TZA/small caps, and the list goes on and on for every sector. These are leveraged and short an index.
It is not the same really as going short and you do not have to borrow shares from your broker. These, plus more are ETNs. There are also reciprocals that go long an index that are...
The Semiconductor sector has been on a tear for the last year and I don't think they are exempt from what is about to happen in the markets. I am playing SOXS to try to increase my exposure to the down side. SOXS has broken out of the descending channel and I am looking for a move back the 1.618 fib retracement at $5.86. My options play is ITM $4 CALLS for Feb. 4...
Betting against the market has increased significantly!
In the past 2-4 weeks the volume of the 4 inverse ETFs has increased significantly (+2x)!
This means lower prices are more likely!
What could happen in the next 3 weeks if prices pass the Red lines?
Market Reversals and the Sushi Roll Technique:
In his book "The Logical Trader," Mark Fisher discusses...
Seeks daily investment results, before fees and expenses, of 300% of the inverse of the daily performance of the PhLX Semiconductor Sector Index. The index measures the performance of domestic companies engaged in the design, distribution, manufacture and sale of semiconductors.
The ETF seeks daily investment results, before fees and expenses, of 300% of the inverse of the daily performance of the Phlx Semiconductor Sector Index which measures the performance of domestic companies engaged in the design, distribution, manufacture and sale of semiconductors.
Semiconductors continue to see large Geopolitical Risks building.
American Consumers have purchased their Fill.
Computers, White Goods, Autos.... etal.
Q3 EPS will be disappointing - EPS, Guidance, Demand.
Shortages and the inherent risk have not been priced in
as this event remains in waiting.
VXM is squatting on Lows once again... sideways to down
We began entries today, given the degenerate squeeze brought to us by
FED wingmen Black Rock and VanGuard.
We'll embrace the .382 level when it trades, even should it fall short in
the 18s, it's 200% off the Wall.
A close over 6.98 will see further additions.
Out first adventure came off an average of 6.12 :)
Hunt, Kill - Profit.
xoxo - Hunter Killer
We have placed out orders from 7.00 Inversely to 6.00.
.382 will provide first in the series.
We are closely watching the VIX Reaction @ 19.80.
At the moment we've seen a 2 Tick Front Run.
In the next 2 days, the Indices will reverse.
SOH for now as we closed a 12K position bottom to top of implied Range.
Caution warranted here as weaker hands have taken over.
6.86 is the Line in the Sand for now, a clear SELL should it close below.
There will be time to reload and patience will be required.
A move to and through 7.71 would imply a Bullish continuation
Trade the Break, Wall Street...