Lot’s of fundamental information out there about China and sanctions and blah blah. Something about semi-conductors and blah blah.
So, took a peak at the PHLX Semiconductor Index and it smashed into a pretty nice SHORT PATTERN ZONE (abcd, 4 ratios, gap (small), other stuff) and, just doing some back of the envelope math, if you take the square root of the high and round up you get 64 and, guess what, 64 weeks ago was the top on January 04, 2022.
All this means is the PATTERN is complete/completing. IF/WHEN (?) we blow thru this level to the upside, then it’s a failed pattern and the SOX should run to the .786 ish and the “red crossover” a little higher and then to new highs.
But, the SELL ZONE looms large, for now …
