As mentioned, this week the potential Triple momentum divergence (negative) on the SOX Index (Philly Semiconductor) now seems less likely to cross down unless we see a decent fall in the next two days.
In that respect it is also worth looking at the long-term chart which has just a beautiful channel stretching over a decade and a half.
The reality being that it suggests it could still be too early to fade this trend with the top of the channel some 22%+ above here.
As noted in the piece yesterday titled IF The Shoe FITZ: Another day...The Strong Dollar And Other Markets the weakest month by far historically in this index is September (Including very clearly Sept 2000 and Sept 2008)....A lot can happen in 3-months