SOX update

The 600 August puts are trading at 5.30 0 6.20 so they are now $4 cheaper than two weeks ago. If it was a buy then it should be even more of a buy now. Here are the updated charts;

sox june 23 2014 bsox june 23 2014 s

The count is by no means clear but there are two nice triangles, the big one as a B-wave and the small one as a 4th wave. Both RSI and MACD are screaming sell more loudly than at any time in the past three years or more. On the bigchart the is almost vector equal to the A and, at 600 plus the SOX has retraced about 62% of the drop from slightly above 1000.