The Philadelphia Semiconductor Index (SOX) continues to hold above the 1:1 Gann Angles which is a strong position to be in. If price breaks through the current 3/8 retrace and 2:1 down angle line, then I can see it moving to 440 in a hurry. I do expected it to correct with the market in June. It will be interesting to note the relative strength versus the total market after the correction. If it goes down less than the overall market, then it will be a buy in October.
Post Modified: July 3rd, 2008 at 12:31 am
Tags: Gann Angle Fan · SOX · Square of RangeNo Comments
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