2/3/19:   

SOX in Danger. 

 

The weekly chart shows a clear spring to up‑thrust set up.

 

Note how little progress was made in the past week to make a new high.  The index barely budged above the high posted from the previous week.

 

While all eyes are focused on the S&P, attempting to analyze every squiggle, other indices such as the SOX are showing a clear set-up.

 

There is of course no guarantee of a reversal from this point.  The set-up only identifies the potential for a trend change.