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Showing posts with label SOX. Show all posts
Showing posts with label SOX. Show all posts

Sunday, September 7, 2014

Elliott Wave Analysis of the SOX

Like many US markets the SOX appears to be in a 5 wave impulse move from the Aug 2014 lows. Some US markets could do with a minor move higher, so i suspect the SOX will see a bit more upside towards the highs made in Jul 2014 and target around 655, but it should see above those July highs.

As i suspect its ending a 5 wave, readers can start to look for ways to sell the SOX, one such way is to buy the share SSG, this is the inverse ETF, so as the SOX moves lower SSG moves higher (although options could also be a decent play as well).

My guess is SSG could see towards 11.20-30 if the SOX moves above the Jul 2014 highs, This looks a great opportunity to look to sell SOX (ie buy SSG).

Sunday, August 11, 2013

Elliott Wave Analysis of SOX (Semiconductors)

The SOX has been a consistent laggard in this rally from the 2009 lows, whilst some of the major markets have rallied well, the semiconductors have not really produced the same sort of gains.

We can clearly see the overlap in this market and its not suggesting an impulse move, its only just above its 2011 high.

When we take a look at the long term charts, i suspect the market is inside a large triangle and potentially the rally from the March 2009 low is wave [C] of that triangle, so close to setting up a reversal if not already topped and put in a major peak.

I am watching carefully now for any signs of a major breakdown.