SOX will bounce back

Currently SOX is at 381, last time we were at 381 was back in July 18th which SOX had a pretty nice run. RSI currently at the low.   Expect SOX to rebound to 406 level by end of next week.

NVDA Uptrend

Amazon will be releasing their own tablet later this year, as soon as October, and as late as December just in time for Christmas. Tablet will be running on NVDIA Tegra 2 processor.  Amazon with 90 million customers, can easily market tablet and compete with Apple.  With Amazon App Store and streaming video already in place, this tablet could easily takeoff.  You can read more about it on Wall Street Journal. 

So let's take a look at NVDA.  Since May of this year, NVDA has been gradually descending to $13.80 level from $18.30.  Last week gain some momentum to $15, and this week back down to $13.80 level again.  Hitting the bottom twice within a week span.  With three month of decline and ending the month on a low, NVDA is setting up to move up.  Resistant at $16 and $20 level and support at $17.

SOXL Rebound

Opened testing last weeks low, gap filled. Seeing a strong push.
Market oversold yesterday. Resistant at $42 and $45. 

Market couldn't hold on.  Wait see tomorrow.

Rough Morning for SOX

Open huge gap down, so most likely, the gap won't be filled.  SOX testing last Thursday low. RSI pretty low, bulls putting a nice fight.  If we close above 400, bulls should be ok. Short-term bullish, still see ending week strong, around 410.

The rebound looks good, 3 strong push.  

Setback, testing the morning low, lets see if bulls can fight back.

Consolidtion, couldn't stay within the channel. Let's see what happens.

Expect a bounce back tomorrow on SOXL, market oversold, RSI low.  

Showing support at $39, important tomorrow we stay above this level 

otherwise we will test last weeks lows.  Resistant showing at $42 and $45.

SOXS Double Top

More downside to come. Double Top formation, but missing volume support on the first top. Support at $60.10, if it break support, expect to fall to $53.91.

FAZ ready to move

FAZ ready to move higher. Currently, RSI at the low and ready to move higher.
Consolidation the last few days, getting ready to move higher.

SOX on the move

Gap up above yesterday close.  SOX kept climbing throughout the day but couldn't close on 410.   Some profit taking by the end of trading hour.  Finishing the week on a strong note.  Expect the move to continue on Monday.   Monday open, expect a strong push to 415 and with a pull back rest of the day.  Have a good weekend!