$SOXX weekly candle just printed a bearish engulfing — same pattern we saw at the June top, not a great sign for the week ahead.
If wave B topped out here, minimal downside target for wave C sits around 400 (where C=A in percentage terms). Linear C=A projection lands closer to 374.
Not calling a crash, but the structure's flashing caution. Watch those levels — if we break below support, the measured move plays out fast. Semis have been leading, so weakness here could ripple into broader risk-off rotation.
If wave B topped out here, minimal downside target for wave C sits around 400 (where C=A in percentage terms). Linear C=A projection lands closer to 374.
Not calling a crash, but the structure's flashing caution. Watch those levels — if we break below support, the measured move plays out fast. Semis have been leading, so weakness here could ripple into broader risk-off rotation.