Monthly Archives: July 2026

SOXX … ‘Straight Down’

July 2, 2026 By in Artificial Intelligence, QQQ, Semiconductors, SOXX Leave a comment

Testing The Break

For those already short, it was a good day.

For those long or waiting to go long, it was not so good.

However, even as this post is being created, the SOXX is retracing higher in the after-hours, testing its trend-line break (not advice, not a recommendation).

Today’s action saw the lower wedge trend-line broken to the downside on increased volume.

Note: The Nasdaq (QQQ) has not broken its lower line but stopped right at the wedge boundary.

Semiconductors SOXX, Daily

While testing of the break is ‘normal’, anything can happen.

If the breakdown stays in-effect, the measured move target is around 487 (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

Corning: Retrace or Reversal?

July 1, 2026 By in GLW, Nasdaq, QQQ Leave a comment

What Comes Next …

The Qs retraced as anticipated but so did Corning (GLW), in more dramatic fashion.

Looking at the chart, note how the Fibonacci retrace levels ‘fit’ GLW price action.

The down-draft energy dissipated after the initial collapse, so what happens tomorrow is important.

As of this post, in the after-hours, the Qs are at just at their session lows and edging higher (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