SOX was the only one that managed to make a new high on the Ugly Stick the other day.
Am watching it closely here this AM.
If it comes back under 2100 again, then bulls may be outta gas and could see sharp correction., but if it holds firm about here, and then takes out the top of the Ugly Stick, then could be sign bulls still have a final run in the tank on this big leg up...
NQ suggesting SOX wont hold, but until it actually breaks down, a bit of caution on the short side still warranted..
Edited by K Wave, 23 July 2020 - 09:21 AM.