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...
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...
