I’ll keep taking shots at SOXX until one of them hits. The charts, price action, sentiment, & fundametal “justification” are very similar (of course, different reasoning for the latter) to silver just before silver made the biggest crash in a half-century.

As of now, we have some very well-defined & dangerously steep uptrend lines on SOXX & XSD (the more diversified semi ETF) in which to trigger the next objective short entries.

The last & recent SOXX short hit T1 for a small profit & reversed there to rally & hit the max. suggested stop, but with each overbought tick higher, the odds that the next solid break below that trendline will lead to a much larger & potentially swift drop increase.

Thx, not talking AGO. Passed thar one

60m & daily charts of SOXX

That uptrend line in SOXX (the secondary one it is now riding up, not the previous one I had a couple of weeks ago) is so well defined & the advance nearly vertical, that could be a powerful sell signal, if & when triggered. The semis look & feel very similar to silver with the recent parabolic advance which was followed by the biggest single-day crash in silver in a half-century. We caught that one & I hope/plan to catch the next crash in the semis, if & when that comes.

If you get a minute, watch the coverage of the Mag 8 stocks towards the end of today’s video for some potential sell signals & other key levels to watch for next week. Have a great weekend!

I just updated SOXX yesterday & I did a detailed update on NVDA in the video above, stating that if that bearish setup plays out & hits any or all of the 3 price targets I covered in the video, that both QQQ & SOXX will almost certainly fall with it. Here are the updated 60-min & daily charts with the uptrend line that SOXX still needs to break to trigger the next sell signal. Something to watch for next week with SOXX likely to added as an official trade idea again soon.

I have no idea what you are talking about. If I recall correctly, I did highlight AGO in today’s video as one of the active short trades that triggered the next sell signal after already hitting the 4th price target for a quick 17% profit last year & today finally triggered the next sell signal when it broke down below that key 79 support/trading range I highlighted in the Short Trade Updates video a couple of days ago as the next sell signal (AGO closed down 9% today, so yes, that one was profitable today). If I highlighted any other shorts that were profitable today, LMK & I’ll try to clarify or explain it.

Regading any profitable shorts lately, just click this link & scroll down the page. Plenty of profitable shorts but nowhere near the quantity or profitability as they were prior to the last month or so with the near-vertical climb in the broad market but again, more than a fair share, considering they were profitable short & hit price targets in the strongest advance in years.

https://rightsideofthechart.com/category/closed-trades/completed-trades-short/

Also, you seem to forget how I reiterated on a daily basis the benefit of using a short on crude as in indirect hedge on any equity shorts… a strategy that proved net profitable against index shorts due to the outside drop in crude vs. the market.

Soxx update please. All te high.