Is This (finally) It?

As a reminder, this update said we may be at the end of the short-covering rally from the April lows.

That’s proven to be correct (so far).

From the same update, we have the weekly Fibonacci correlation at 55 weeks between highs.

With that said, let’s look at the chart.

Semiconductors SOXX, Hourly

We’re using the shorter timeframe as the flag is not that easily seen on the daily chart.

Currently positioned short as SOXX-25-09, with the stop at today’s high (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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