‘… Giving It All She’s Got, Captain’

One hundred and fourteen years ago, Wyckoff described the ‘exhaustion spike’.

‘After long upward bull market, there’s a blow-off top on heavy volume’

That may be what happened yesterday with earnings from TSM.

The sector itself, the SOXX, is far below its all-time highs.

That implies the market’s ‘thinning-out’.

Right now, as of this post (11:32 a.m., EST), SOXX is trading in sort of a no man’s land.

Action is higher for the day, but in the lower end of the sharp down move from Tuesday, the 15th.

Semiconductors, SOXX, Daily

‘Lower Half’ action sets a bearish tone.

If we get a new daily low, that increases the probability of more downside (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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