$SOXLB broke below the 90-day low (62.33) on heavy volume, with turnover at 2.7 times the 20-day average and the current price at 47.4.
A high-volume break below the range low may indicate concentrated selling pressure, meaning support at the previous low has failed.
Check two things: the daily close is below 62.33; a rebound to the previous low is rejected, turning that low into resistance.
A high-volume break below the range low may indicate concentrated selling pressure, meaning support at the previous low has failed.
Check two things: the daily close is below 62.33; a rebound to the previous low is rejected, turning that low into resistance.