SOX update

The 600 August puts are trading at 5.30 t0 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 and MACD are screaming sell more loudly than at any time in the past three years or more. On the bigchart the c is almost vector equal to the A and, at 600 plus the SOX has retraced about 62% of the drop from slightly above 1000.