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SOX and the City

This is a syndicated repost published with the permission of Slope of Hope – Technical Tools for Traders. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

The bulwark of high-tech gains from April 2020 through September 2021 was semiconductors, This, I am pleased to say, has failed. The highest point in human history was just last month, but since then, the breakdown is quite clean. This is particularly encouraging (“Tim, you find everything encouraging”) with the shooting star reversal that almost perfected touched the underside of the now-broken uptrend.

I own November puts on two semi companies, both of which are sporting right-triangle tops. They are Micron:

And Lam Research:

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