AI
Overbought on the daily chart over the last few day which should signal a correction coming. The whole parabolic run over those few days petered out and left a fairly long wick. Its going to need some consolidation if it wants to move higher.
Seems like every tap of the upper BB puts SOX back down into a range or a correction before moving higher and riding that upper BB. If the W%R stays above -50 then it could mean more uptrend.
My guess would be it whips around 500 for a while.
That $SOX:IGW indicator seems to give fairly good indicators price tops and bottoms when it goes out of the standard deviation. Maybe increase the StdDev on the BB from 2.0 to 2.5 maybe 3.0 to reduce false signals. Might try it out on a few other indexes.
Seems like every tap of the upper BB puts SOX back down into a range or a correction before moving higher and riding that upper BB. If the W%R stays above -50 then it could mean more uptrend.
My guess would be it whips around 500 for a while.
That $SOX:IGW indicator seems to give fairly good indicators price tops and bottoms when it goes out of the standard deviation. Maybe increase the StdDev on the BB from 2.0 to 2.5 maybe 3.0 to reduce false signals. Might try it out on a few other indexes.
