FOMO

According to the finical press, it was mass screaming hysteria as stocks ‘short squeezed’ to all-time highs, link here.

However, one sector noticeably absent from the crazed party, were the semiconductors.

In fact, during the past month or so, the SOXX has gone from market leader to laggard (not advice, not a recommendation).

As we’ll see below, there’s also an interesting pattern; an a-b-c correction to a minor up-thrust.

Semiconductors SOXX, Daily

Note the inflection points at Days 1 and 3, with today, a potential inflection, at Day 5.

This price action is typical of a move to higher levels, potentially the top of the range and farther.

However, if the SOXX stalls at this point and reverses, it indicates severe weakness (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.

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