Once The Trend Was Broken

During the internet bubble of the 2000s, after the trend break in the QQQs, price action immediately began its long (multi-year) descent.

Naturally, it would follow when comparing that bubble, with the A.I. bubble, as was done here, one would have thought once the trend is broken, down we go.

Not so, today.

Instead, we have depending on how it’s measured, at least ten-weeks (so far), testing of that break.

Is it all about to change? Are we at ‘tests’ end?

Semiconductors SOXX, Daily Close

The most recent update showing the ‘trend break’ as discussed above, is here.

The chart below, presents a possible ‘last gasp’ for the SOXX (not advice, not a recommendation).

From a Wyckoff analysis standpoint, the market ‘by its own action’, has told us the axis line above, is important.

If the chart is correct and we’ve had a false breakout (Wyckoff Up-Thrust), the expectation is for downside follow-through (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