$SOX Semis UPD Thread:
1) Blow off top in progress - question is where does it end?
-I find calling tops before we see rollover pointless, we are simply looking for conditions for a top and RR for any future trades
-Our best matching cycle from Jan 1 analysis was 94-98 which has come to a spot where that cycle started putting a 2 month distribution top followed by 12 month correction (see updated price and close up view)
-Current 3.5Y cycle is already extremely long; I think topping and correction phases will be more compressed and bottom ~Q4.