Reached first support/demand zone, after kissed good buy the lower boundary of the wedge. Q's also at support/demand zone
Semiconductor's aligned performance with major indexes is well known and well advertised. Many felt disappointed and lost money - myself included - when they broke year's old resistance. With an empty chart - that always help - found the following: -Doji at the upper boundary of a bearish wedge -127 fib resistance -Monthly old money flow divergence, as well...
Possible H&S top forming on SOXX? It has a nicely defined head already---w/a rounding top---but wouldn't be out of ordinary for one last pop up to shake out shorts and then finish the head. TBD, of course. 6MAY14: Just following up on this and sure enough, shows how a trend can go on and on and on....that said, recent distribution in indices and leading stocks...
Interesting pair here. Although the ETFs are tracking different sectors, the correlation between the two in the past 100 days is good ( 70 % + ), but more importantly , the co -integration is high @ 86 %. This is the 3rd trade this year for this pair. So far, all trades have been successful. CORRELATION : 70% COINTEGRATION : 0.86 LONG SOXX (GREEN) @ 50.02 SHORT...