$SOX is about to break out from a 7yr LT DTL. SPECIAL ATTENTION to price actions during the next week to confirm a break out. $SOX is breaking out from 2mo consolidation as shown with a yellow highlight dot, trading to near previous double top 495 resistance.
On July 22, 2006, I commented on 9mo and 4yr cycle notation reversal. Since the $SOX traded up 1.5mo, consolidated 4mo in a trading range. Now, it will likely break out to upside with a target of 550.
SMH closed at TL resistance, however, it will likely breakout to upside with target to the previous double top prices, 35.69-35.86, near 36.
SMH closed at TL resistance, however, it will likely breakout to upside with target to the previous double top prices, 35.69-35.86, near 36. With $SOX breakout confirmation, it will breakout the triple top formation with a target to near 39.
$SOX traded to a 7yr long term TL, as commented above, it will likely trade to $SOX 495, then to 550 which was Jan 2004 top.
On July 22, 2006, I commented on 9mo and 4yr cycle notation reversal. Since the $SOX traded up 1.5mo, consolidated 4mo in a trading range. Now, it will likely break out to upside with a target of 550.
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