Semiconductors - almost to the 5th wave down. LOAD UP on SOXS

20 Oca 2019

Semis swinging nicely in this range bound pitchfork. Volatility increase near the outer bounds, and we are almost there. Clear 5 wave count to conclude at the long term bullish trend line. This is my short term trade to the downside using SOXS 3x bear, and will reevaluate my next move when this target is hit. There's still a long term bull target on most indexes (including Semis) that has not been hit. I'm keeping that in the back of my mind, but for now staying bearish on this move. Ignore the time based fib if you want. I rarely use it, but it helps fit my narrative for now.