Like a Terrier On A Mailman’s Leg

As of 3:10 p.m., EST:

The Cliff Notes version of what’s happening with the SOXX, is this:

NVDA, has not posted a new daily high.

However, the SOXX, pushed to a marginal new daily high, stopped out the short position and now appears to be in collapse (not advice, not a recommendation).

The new daily high for the SOXX, counts as a Wyckoff Up-Thrust and reversal to the downside.

That’s where we are now.

Positioning:

The amateur never gets back in once stopped out (per Dr. Elder). I have long since passed that mental block; repositioned short again (not advice, not a recommendation).

Trade is labeled as SOXS-23-14 … charts to follow.

Stay Tuned

Charts by StockCharts

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The Danger Point®, trade mark: No. 6,505,279