Last week’s buying binge pushed this ETF through the midpoint Hidden Pivot resistance at 529.94 with such force that more upside to at least 595.80 is assured. The first thing to notice, however, is that a rally to that number would fall well shy of a new record high. It would also corroborate my suspicion that the bull market begun in 2009 is over, and that tech stocks are leading the implied sea change. Regardless, a pullback to the green line (x=497.01) from last week’s high at 547.90 can be bought aggressively using a ‘camo’ trigger. The technique is described in the six-hour Hidden Pivot Course I’ve made available in recorded form to all legacy subscribers and newbies who have signed up with Rick’s Picks for a full year.
$SOXX – Semiconductor ETF (Last:543.27)