Semiconductor Index – July 14, 2024

Last post on Semiconductor Index: https://atomic-temporary-44460632.wpcomstaging.com/2023/04/05/phlx-semiconductor-index-april-05-2023/

Well, this pattern worked for a little bit but then got blown away. What’s interesting and we see it all the time is that level, once failed, was reattacked one last time before it took off to where it is now. Remember failed levels as, most of the time, they will perform polarity and you can invest/trade off of failed levels also – usually on the first retest and then it takes off. FYI.

So, here we are w/ a ‘valid’ count … and a wee bit higher we have the ABCD. Sure looks like a top.

Also, take a peak at NVDA. Tracks very nicely w/ the Semiconductor Index and also has a daily Gartley SELL that just hit.

Of course, this market continues higher and higher and higher … so, take that w/ a grain of salt.