60% Of Capitulation Criteria Met Please click here for an enlarged chart of Direxion Daily Semiconductor Bull 3X ETF (NYSE:SOXL). Note the following: Semiconductors reflect the AI trade, and SOXL is the momo crowd’s favorite.
The chart shows SOXL has fallen below the low band of zone 3 (support). However, investors need to look at the breakdown in conjunction with RSI and the volume.
This is a positive. The chart shows heavy volume yesterday when SOXL fell below the low band of zone 3.
Short selling again may not be as intense as it was yesterday. The net result is that heavy volume in this context is positive, not negative as it seems on the surface.
It is worth a reminder that you do not get to invest and trade in the market you wish you had; you get to invest and trade in the market you are given. Certainly, it would be easier if 80% – 90% of capitulation criteria was met so that a signal to back up the truck and buy stocks.
S. " we wrote yesterday: Iran’s Islamic Revolutionary Guard Corps (IRGC) spokesman Hossein Mohebi is saying that IRGC is shifting to an "offensive and asymmetrical" defense doctrine.
S. bases, other countries, and oil tankers in its defense.
In the early trade, money flows are neutral in Apple Inc (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA), and Tesla Inc (NASDAQ:TSLA). com, Inc.
(NASDAQ:AMZN), Microsoft Corp (NASDAQ:MSFT), Alphabet Inc Class C (NASDAQ:GOOG), and Meta Platforms Inc (NASDAQ:META). In the early trade, money flows are negative in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).
The most popular ETF for oil is United States Oil ETF (USO). Bitcoin Bitcoin (CRYPTO: BTC) is range bound.
What To Do Now Consider continuing to hold good, very long term, existing positions and add tactical positions based on signals. The tentative plan is to continue reducing cash, assuming the new data is supportive.
The Arora Report is known for its accurate calls. Most recently, we correctly called the rally from recent stock market lows and the 2026 semiconductor decline before a 25% drop in the Semiconductor ETF (SMH).
In gold, we bought at an average price near $1,105, close to cycle lows, and took partial profits near $5,400, close to cycle highs. Please click here for our free forever Generate Wealth Newsletter.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
