At Resistance
The last update on the SOXX, had this:
“However, at this juncture, a retrace to 38%, (and gap-fill) seems more probable.”
The chart shows SOXX, just shy of the 38.2% level.
At the close today, we’re at established resistance.
A slight retrace down (gathering steam) is normal before penetrating resistance to the upside, if that happens (not advice, not a recommendation).
Stay Tuned
Charts by StockCharts, TC2000
