the ONLY thing in the back of my mind, and it's ONLY because of
earnings season is that this is such a well spotted H&S, I mean
every technician I see is talking about it, the market likes to
fake out the masses when too many people see the same pattern is
for price to go a bit lower on SMH, go below the neckline and 50
day MA get a trigger on everyone's charts, which triggers a bunch
of people to short it, then BOOM reversal back up and trap them.
And maybe a bounce there would only form a lower higher and
sell off hard later on, but it is something to at least consider
given earnings season and the well spotted pattern. we'll
see, but I agree it's been my biggest concern. If earnings
season was not here then I wouldn't even consider this,
Otherwise we continue to see this rotation out of AI and Semis
into other areas, including FANG stocks APPL, GOOGL, META etc
Posted by johnny2012 on 15th of Jul 2026 at 12:48 pm
Thanks for your insight on this Matt. I agree that can
definitely happen. That's why I keep shorter term targets and
re-evaluate once achieved. I throw out possible longer-term targets
just for us to watch based on price action. We don't have a
broad-based sell off yet. Its limited to sectors and they just
rotate the money around; it never leaves the market. These
massive IPO's have really stretched the money it seems to me, so it
keeps rotating. just my opinion.
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SOXX possible target area if
Posted by johnny2012 on 15th of Jul 2026 at 12:37 pm
SOXX possible target area if big head and shoulder plays out in the future. Chat is notated.
SOXL
Posted by rbreese on 15th of Jul 2026 at 12:51 pm
Decided to take my chips off the table as I am headed out to IDAHO for a long vacation. I am sure johnny will direct traffic well. Good luck to all.
Priest Lake? Cour D'Alene? I
Posted by frtaylor on 15th of Jul 2026 at 01:08 pm
Priest Lake? Cour D'Alene? I do miss the Palouse - grew up there.
A little further North of Boise 60 miles .
Posted by rbreese on 15th of Jul 2026 at 01:13 pm
No Garden Valley where my buddy retired a few years ago. Lots of lovely Hot Springs.
Enjoy your vacation brother. Glad
Posted by johnny2012 on 15th of Jul 2026 at 12:53 pm
Enjoy your vacation brother. Glad you made some on SOXL.
Enjoy!
Posted by shellson2 on 15th of Jul 2026 at 01:02 pm
Enjoy!
Thanks all.
Posted by rbreese on 15th of Jul 2026 at 01:13 pm
the ONLY thing in the
Posted by matt on 15th of Jul 2026 at 12:41 pm
the ONLY thing in the back of my mind, and it's ONLY because of earnings season is that this is such a well spotted H&S, I mean every technician I see is talking about it, the market likes to fake out the masses when too many people see the same pattern is for price to go a bit lower on SMH, go below the neckline and 50 day MA get a trigger on everyone's charts, which triggers a bunch of people to short it, then BOOM reversal back up and trap them. And maybe a bounce there would only form a lower higher and sell off hard later on, but it is something to at least consider given earnings season and the well spotted pattern. we'll see, but I agree it's been my biggest concern. If earnings season was not here then I wouldn't even consider this,
Otherwise we continue to see this rotation out of AI and Semis into other areas, including FANG stocks APPL, GOOGL, META etc
per my comments this morning
Posted by matt on 15th of Jul 2026 at 03:35 pm
per my comments this morning on the market saying to be careful of bear traps on the market
anyway guys I have a migraine headache, had to lie down, will do so again after the close
Thanks for your insight on
Posted by johnny2012 on 15th of Jul 2026 at 12:48 pm
Thanks for your insight on this Matt. I agree that can definitely happen. That's why I keep shorter term targets and re-evaluate once achieved. I throw out possible longer-term targets just for us to watch based on price action. We don't have a broad-based sell off yet. Its limited to sectors and they just rotate the money around; it never leaves the market. These massive IPO's have really stretched the money it seems to me, so it keeps rotating. just my opinion.