Will Head And Shoulders Pattern Send Semiconductors Index Deep In Red?


Today we share another important chart for the Semiconductors. Why? Because they are a market leader that has fallen on hard times this year.

And as you may have noticed, we always bring to light the latest reversals and key tests of support/resistance in an effort to highlight potential trend changes.

Just last week, we shared a chart 2-pack looking at key trend line tests for the Semiconductor ETF (NASDAQ:). Today, we look at a harrowing pattern for the .

SOX Weekly Chart

SOX Weekly Chart

In the “weekly” chart of the $SOX, we can see that the Semiconductors Index has formed a head and shoulders pattern over the past 9 months. If this read happens to be correct and support fails at (1), the SOX Index could experience a lot of red going forward. 

Time to watch the leader of all leaders for the past decade-plus. Bulls better put up a fight, or it could get ugly in tech land. Stay tuned!



Source link

Related articles

Hackers Publish Alleged GMO Buyer Information as Dealer FXTF Shuts Out Abroad Logins

FMIQ: Get Verified Market Intelligence in Seconds | FM Intelligence FMIQ: Get Verified Market Intelligence in Seconds | FM...

Ripple will get a last go-ahead to launch its personal U.S. nationwide belief financial institution

Ripple, a fintech firm constructing blockchain and crypto for cross-border transactions, and tokenization, can now run a specialised financial institution beneath U.S. federal supervision.The Workplace of the Comptroller of the Foreign money, the...

Purchase Shares on Robinhood: A Step-by-Step Information

a Shopping for a inventory on Robinhood is a handful of steps as soon as your account is funded. The half folks get caught on is every part round these faucets: {dollars} or shares,...

The Professionals And Cons Of Enabling Apple’s Safety Function

Lockdown Mode makes your iPhone far more safe towards spy ware, however most individuals needn't use it. ...

Databricks co-founder shares his secrets and techniques for successful massive enterprises clients

Startups have by no means been below extra strain to develop rapidly. To do this, lots of them should land massive enterprises, the deep pockets of the IT world, as clients. However as...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com