Philadelphia Semiconductor Index has approached the ceiling of trend channel Sell Semiconductor
I see a cup and handle/Gap ups at1513 ish that is not filled..but a gapd down close by previously Leveraged semicondoctors..I think they will do well in the near future and I am in a few I am not in this one/so not recommending it! Go with your gut/and your wallet (o:
Software and e-commerce have mostly led the rally in technology and the Nasdaq. But now chips are trying to participate as earnings season approaches. The Philadelphia Semiconductor Index broke out to new highs on Monday and has held its ground since. That may draw buyers who wanted more of a pullback but never got it. This chart also features our Smart...
Chips have been one of the strongest industry groups in the last several years. The drivers are mobility, cloud computing, gaming and increased semiconductor use in general (including autos and industrial devices). 5G is another looming catalyst. Today the Philadelphia Semiconductor Index is on pace for its highest close since coronavirus first hammered the...
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: www.youtube.com
Upper line of Andrews pitchfork tagged and trend line broken.
LOOK FOR THAT THOUGHT OVER INTO 2000 NOW WAVE 4 WAS .618 OF LAST UP LEG I AM NOW LONG SOXL 250
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.
WE ARE NOW AT A .382 OF WAVE C PULL BACK A 5 WAVE UP IS STILL IN PROGRESS
Most people don't understand don't get it when it comes to market. Because they think that by just looking at charts, that is more than enough to beat the market. Remember, market are moved by whales and smart money. Whales and smart money have COMPREHENSIVE PLAN on the market. They are not obsessed or focused on SHORT TERM and INTRADAY moves. That's why...
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...
Breakthrough or breakdown?
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...
SOX(W) TL Break WW Geo(1-4) RSI Triangle
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...