
HUGE SEMICONDUCTOR RALLY DESPITE NVIDIA SCANDAL SHOWS THE EDGE FROM SENTIMENT AND POSITIONING; HOTTER CPI
By Nigam Arora

To gain an edge, this is what you need to know today.
A Powerful Edge
Please click here for a chart of leveraged semiconductor ETF (SOXL).
Note the following:
- Semiconductors reflect the AI trade, and SOXL is the momo crowd’s favorite.
- The chart shows that support at the upper band of zone 4 (support) has held so far. This is a positive.
- The chart shows that yesterday SOXL staged a major rally of 22.25%. This is a positive.
- The chart shows that the volume was heavy but nowhere near the very heavy volume during the decline. The interpretation of this is positive.