Last High?

Is the SOXX, calling us to say, ‘this is it?’

Of course, that’s unknown until it’s all over.

What we do know, price action posted a new high as outlined in the last update, link here.

At this point (11:50 a.m., EST), we’ve retreated from that high and are congesting at lower levels. So far, so good, for a short (not advice, not a recommendation).

We also know, shown on the weekly chart, we’re at Fibonacci Week 55, from the all-time highs.

Semiconductors SOXX, Weekly

The SOXX penetrated highs of July 15th, as forecast.

We’re in Up-Thrust position after having completed a potential spring-to-up-thrust, set-up.

Positioned short, SOXX-25-07, with a very tight stop at (or to be) the session high (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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