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Showing posts with label SSG. Show all posts
Showing posts with label SSG. 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).