Say, how bearish does the SOX look to you? I didn’t think so.
That ‘Handle’ is indicated to have been a consolidation of the big ‘V’ pattern after all that hype in October from one damned company (Microchip Technology) that was billed by the street as a canary a coal mine.
Well, the market wigged out, we called it b/s and then MCHP came out with a ‘duhhh, everything’s fine’ PR.
Anything can happen in this overly emotional market, but as of now the SOX is broken out of a Handle to a pattern that measures to 750. Dat’s what da chart sez.
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