Thanks to my friend @superiorJaguar24882, I'm thinking about getting into SOXS in the near future.
(Left Graph) SOXS (3X Bear ETF, Semiconductors) is currently in an ascending triangle, not confirmed, with possible gains up to 74%.
This is supported by the current inflation rate, gas price and overall bad news. Our fun money is just not as available as it used to be.
(Top right graph) S&P consumer Discretionary index is currently in a descending channel with no end in sight. You can also see the dreaded Death cross circled in blue, prelude to a long bear market.
Bottom right if the S&P Information technology index. Currently showing a big head'n shoulder (not confirmed) that could, if confirmed lead to a negative 21% in value.
So basically, the techs will not have the upper hand from now on. Buyers will put food on the table first. Fun money will come in second or even less. It may just be the right time to bet against the Semiconductor market.
As always, stay humble, have fun, make money.
(Left Graph) SOXS (3X Bear ETF, Semiconductors) is currently in an ascending triangle, not confirmed, with possible gains up to 74%.
This is supported by the current inflation rate, gas price and overall bad news. Our fun money is just not as available as it used to be.
(Top right graph) S&P consumer Discretionary index is currently in a descending channel with no end in sight. You can also see the dreaded Death cross circled in blue, prelude to a long bear market.
Bottom right if the S&P Information technology index. Currently showing a big head'n shoulder (not confirmed) that could, if confirmed lead to a negative 21% in value.
So basically, the techs will not have the upper hand from now on. Buyers will put food on the table first. Fun money will come in second or even less. It may just be the right time to bet against the Semiconductor market.
As always, stay humble, have fun, make money.