Long
large cap semiconductors carrying market lower or higher
nasdaq us large cap semiconductors are carrying big tech right now. if they drag the market lower im bearish on the broader market. if we bounce in this group especially NVDA and AMD i think were headed for a test of the weekly lower high around 5500 translating to a $15 SOXL. if we bearflag, and head lower id imagine were in for much more of a drop. the pivot is dashed and upper/lower horizontals are solid lines. the extended line rising is the recent low linked to the all time low. if we break below this range its bearish for SOXL and the market in general.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.