SOXX Major Trendline Resistance
SOXX tapped a major trendline earlier and rejected a little so far. Semiconductors are a dangerous short right now, but if there's any place they're going to fail, I think it's here. Since it is right on the line it provides good risk to reward, tight stop above. We'll most likely need to see weakness in NQ and for sure NVDA for this to work.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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