I'm not trying to say another new 52wk high. What I'm thinking is this: the SOX was sooo range-bound until this recent breakout. Now we have down-trended right back to the top of this range.
Perhaps now we go range-bound again, only this time in a higher range. Say, 485-515 rather than say, 445-495.
It doesn't seem to me like the market has the conditions to send the SOX packing...however...that the rally has been strong, even without the SOX, could mean that, once the market corrects, it just sends the SOX lower. I guess that would support Doc's 420 theory.
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