$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ Looking at the charts, the general setup for SPX and NDX seems to be a bullish wedge or pennant forming for now. The plan is to let the current choppiness play out and wait for a potential dip to buy into.
From the daily candles, it looks like we might still get that dip before a new all-time high. If a dip does happen, the daily cycle suggests it could occur this week or early next week.
A dip could allow SPX to test the 7200s again, which would be a favorable spot in terms of risk-reward for a bullish view.
$iShares Semiconductor ETF(SOXX)$ appears to be getting a technical bounce. There might be a brief drop at the open followed by a reversal or grind higher. This setup aligns with the view of a bounce today, possibly followed by another drop tomorrow. Both sides might be in play for intraday moves. $Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$
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