SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: The Ox who wrote (78362)4/12/2023 5:01:42 PM
From: Sun Tzu7 Recommendations

Recommended By
ajtj99
Arran Yuan
Return to Sender
skier31
The Ox

and 2 more members

  Read Replies (1) of 97251
 
From where I stand, SOX is a sell. It's even a better sell if it rallies. The only thing that would change my mind is a broad based rally leading to a new high. Here's what I have for SOX:

(1) Price broke below the red line on top, *and* the redline is not trending. It is steady. So that level means something.
(2) My version of RSI was overbought in all timeframes: Monthly, Weekly, and Daily, *and* it has since rolled over and is below its MA (and still pretty high up - no oversold levels).
(3) The trend has rolled over and is pointing down (the black line), *and* the close is below trend.
(4) Both of my lower indicators are below 50% mark and are not oversold.

The only thing that SOX did not do was to close below two days ago low, but at this stage that is not necessary. It did that already couple of days back.

What can happen (though I doubt it), is that SOX could checkback to the redline. Should it do that and show weakness, I will double my short position. If it goes back there and then stays above it, then I will close my short position and likely switch to long.

As they say in Mandalore, this is the way <vbg>

PS My first target for SOX is 2900 (the blue line) and then every fib point on this chart.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News