at the same time, SOX daily chart showing ADX twin peaks (negative divergence) and RSI divergence.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Insane what we saw for a rally since March 2020. Especially the TechSector and Semiconductors reach now a level which is crazy and not healthy. If you now invest in the broader market you hope that you´r not the last one who bought into the rallye. It´s time for a correction, so new money can flow into the market.
Watch out and take care of your Risk and Money...
A Must-see chart on the Semiconductors, very similar to my SPX count. Just as with the other drop prior, we could see a double top here on the 4-hr. If this has a double top, I might try to find bearish positions in other names such as INTC.
I am simply just re-charting what I've seen on Bloomberg. Link to the video:...
SOX look like as resistance is ahead. Weekly Cup and handle pattern very close to be complet. For me, it's a High tail warning but not confirmed. Lot of room below before to touch the lower trend line. SOX is still bullish until that happen only a breakout of weekly lower red trend line would change it for bearish.
Using Elliott wave one can determine once an uptrend has ended as the market simply has run out of waves. Here I assess the waves off the November 2008 low (yes the NASDAQ:SOX ) bottomed well before the other major US indices and has thus been a market leader since. However, it's price pattern off the December 2018 low is all but ideal and in elliott wave terms...
As posted previously regarding SMH, here is another look at SEMICONDUCTORS via the SOX.
Semiconductor stocks have PEAKED after a major bull run (from a minimum of 2009 and possibly a lot longer 20-30yrs...this could be the end of a SUPERCYCLE). There is a fairly picturesque Elliott Wave count in play which suggests we are heading for a MINIMUM pullback of 40% and...
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...
SOX - Semiconductor index as the Growth Tech Cycle Dow Theory, in this chart we see a climax divergence in 2001 and some spots in the current cycle.. similar way to see transports index as a measure of the dow theory. it would be nice if was easy to get an advance decline line or something similar in order to see the "breathe" of SOX, I am sure will also state...
The trend is obvious.
Proud to be the only few longs on the stock market while everyone else is screaming crash and recession.
Semiconductors are going through secular trend.
It will still be cyclical but the cycles will be much smaller and limited.
Charts are telling us different story.
Market always moves ahead of narrative.
The narratives are there,...