SOX - Leaving money on the table is a great analogy, because your 3rd favorite sector is looking very dicey for future upside beyond the current bounce. After a review of the index since inception, I find no patterns or forks driving it to new highs, as every pattern and projection has been exhausted. Maybe that's why the index found it's way into Chef's thread header recently... possibly the greatest contrary indicator that we have access to for free!! <ggg>
As seen below, SOX just completed a 5th touch inside an expanding triangle (aka megaphone), which is almost always a great reversal spot. That appears to be the case again in this index, as a nice bounce has materialized from that 5th touch line in the 2,750 area. A small double bottom with reverse V has formed at the lows, and is targeting 3,090 for a pop-n-drop reversal. From 2880, that 7% rise would be a vast out-performance to the 3.1% rise expected for the NDX before the bounce there is expected to end. Place your bets, pass line, dont, who needs crap insurance? C'mon lucky 7... baby needs a new pair of shoes!! 7%.... 7%!! YES!!!
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