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[hiker]

5/22 intraday SOX update

observations only, conclusions or forecasts are up to the individual -

http://stockcharts.com/gallery/?sox

PnF chart continues to show that supply remains firmly in control

as noted on 5/19, 466-467 may be a critical tell about what is most likely next

today's close will be important

50-week ema (currently approx 487) is now pointing down

100-week ema ...approx. 468

200-week ema...approx. 464

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5/19 intraday update -

http://stockcharts.com/gallery/?SOX

three consecutive days of testing the 474 area by the intraday lows, followed by a bounce today moving above 484 horizontal support/resistance and testing Wednesday's high before the advance stalls intraday.

what next week is the question....

Note the prior moves below the blue support trendline on the PnF chart, for comparative price behavior before and after the trendline break....will this time be different? 466-467 may be a critical tell (a gap resides in that area as well)...so far the inability to close below horizontal support at 472 is providing a clear message.