G-luck & thanks for sharing all that. Yep, lots of bear flags in the semis & a good many of them already down 20%+ & below key trendlines & MAs. NVDA & AMD plus a few others holding up the sector but they appear to be ready to join the party soon so the R/R for shorting SOXX here if one can give it some wiggle room on their stops seems very compelling when factoring in the downside potential. AMZN has already broken down on the daily & weekly & the world’s 2nd largest company is likely to drag the market down with it sooner or later.. AAPL & the rest of the lot ready to go soon too.

Best of luck if/when you re-enter those trades.

There is a nice chart from above the green line on stockcharts.com showing the parabolic move of amazon on a LT monthly chart, we haven’t finished the month yet, but if we finished here, it willl set a powerful candestick reversal pattern

thanks for the great analysis

Good point. That does look like a nice rounded top on SOXX. Either way, that 164ish support is very well-defined & very significant. It also makes up the bottom of a Double-top Pattern (March & June 2016 highs) with a measured target that aligns perfectly with my 138-139 support/target zone, about 22% below current levels.