Replies to post #137 on Sector Investing

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Has a new downtrend begun? Probably.

Lets look at the SOX for clues about the NASDAQ:



We are at what I expect is the neckline for the SOX on its chart at 359. One close below 359 may mean a trip down towards 332 for the index before we hit enough significant support to rally back higher.

This is in fact what I expect to see happen. The SOX will either have to find a great reason to bounce early next week or else we will see 332 before we have any hope of the decline reversing.

JMHO, RtS