Semis have been a strong group in recent days. But will they climb out of this trading range of 57$ low to 72$ high and march higher or will they fall lower?
The pattern is pretty much building up like a textbook Wyckoff Distribution Schematic.
You can see the schematic here: Link
With time we will know how this plays.
trends SOXL/semis have displayed last 2 years.
Just a trend analysis study.
Observation: SOXL is more wilder than TQQQ for sure, though both are leveraged 3X, and is harder to trade vs TQQQ
SOXL is showing more relative strength than NDX and QQQ's.
Her's my take on current setup and plan to re-enter
Ignoring in red zone
Current bias:Neutral
Nasdaq Bias: Short(Support may be close)
