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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Peace who wrote (110877)	9/4/2018 3:13:06 PM
From: GROUND ZERO™	Respond to of 221844

Yes, could be... it could also continue higher... I'm watching it like a hawk... GZ

To: Peace who wrote (110877)	9/4/2018 3:22:18 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 221844

If you look at the $SOX weekly chart, that same wedge pattern is actually bullish... The 5th touch of that wedge now about 65% into the wedge suggests an upside breakout even after it bounces away from it, if it does bounce away at all... that's using the 65% Rule for bullish breakouts... I think the SOX is going much higher and will resolve higher even if it does back off some... I'm just going with my model and it's long the SOXL for a while already... GZ

To: Peace who wrote (110877)	9/5/2018 1:54:17 AM
From: Robohogs	Read Replies (3) \| Respond to of 221844

SOX and certain bios are only qqq tech sectors not to have hit ATHs. Of course 2/3 of the major bio etfs did hit new highs (one just 52w high as it is yet to take out 2015 high - bad laggard) but majority stinking anyway as evidenced by xbi not getting to even 52w high, though it had been exploding out of severe compression last week. Anyway, these are usually leaders. Sox is being kept in check by tariffs. Bios are kept in check by rising rates. And fear of Dems getting power. Jon