It fell another 5.31% in an hour. $SOXLB is trading at 45.04, not far above the 24-hour low of 42.11.
At this point, the scariest thing isn’t the size of the drop itself—it’s that the decline has continued to accelerate over the past hour. You’d think buyers would step in at this level, but sellers show no sign of letting up. For those holding, the hardest part isn’t how much it’s fallen; it’s not knowing how much further this leg down will go.
If it were up to me, I’d lean toward waiting a bit. Trying to catch a falling knife during a sharp sell-off means you’ll end up catching it halfway down nine times out of ten. But if 42.11 breaks, then it’s no longer a question of whether to wait—the downside will have very little support.
If 42.11 doesn’t hold, how much further do you think it could fall?
#SOXLB #MarketAnalysis
At this point, the scariest thing isn’t the size of the drop itself—it’s that the decline has continued to accelerate over the past hour. You’d think buyers would step in at this level, but sellers show no sign of letting up. For those holding, the hardest part isn’t how much it’s fallen; it’s not knowing how much further this leg down will go.
If it were up to me, I’d lean toward waiting a bit. Trying to catch a falling knife during a sharp sell-off means you’ll end up catching it halfway down nine times out of ten. But if 42.11 breaks, then it’s no longer a question of whether to wait—the downside will have very little support.
If 42.11 doesn’t hold, how much further do you think it could fall?
#SOXLB #MarketAnalysis