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.
Now, it’s near a contact point on a downtrend line, that’s also part of a trading channel.
Behavior of the market as it pushed above resistance (up-thrust), then below support (spring) is clearly demonstrated.
This is what markets do, have done, for over a century.
As far back as 1902, in Wyckoff’s autobiography, he figured out that such movements have ‘nothing to do with valuations’ (not advice, not a recommendation).
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.
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.
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.
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.
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.
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 price segment at left, shows the SOXX reversing from all-time highs, lower into minor support, then retrace.
That move is in line with the Nvidia reversal on its earnings release.
As we’ve heard many times (Ed Dowd, Ox Talks and others), just the hint of slowing sales may be enough to kick off a sustained downside move (not advice, not a recommendation).
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.
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.
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.