On August 14th, I posted an article titled “The SOX Needs Time Therefore The Entire Market Needs Time.” The chart posted made the case for the SOX moving into a period of sideways movement as it met its upside trajectory point. What I didn’t realize at the time was that the market wasn’t going to let weakness in the pesky semiconductor sector hold it back from its preordained destiny.
What has been surprising is that it turns out the SOX needed more time than I expected. Here is an updated analysis:
click chart to enlarge
SOX
