Short Thesis - SOXX Ascending Wedge Break & Retest
NVDA and other AI/semiconductor stocks have led this rally, so it's important to monitor the sector as a whole. SOXX helps us do that and we have yet another major ascending wedge that was broken to the downside. Much like QQQ, SOXX saw a hard rejection on this retest and has another ascending wedge/channel it is threatening to break below now. The break down could come as early as next week, but it's holding right on the line for now after bouncing at the previous all time high.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
For transparency, current positions:
Short: LULU SPY TSLA
Long: GME
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
For transparency, current positions:
Short: LULU SPY TSLA
Long: GME
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