Philadelphia Semiconductor Index Bucks ResistancePHLX SemiconductorNASDAQ_DLY:SOXTradeStationChip stocks have paused after a big run, and some traders may think they’re ready to move again. The first pattern on today’s chart is the series of lower highs since June. SOX closed above that falling trendline on Friday, which could suggest resistance is starting to break. Second, the index closed above its 50-day simple moving average (SMA) for only the second time in two months. That could indicate its intermediate-term bearishness is fading. Third, last week’s low was slightly above the September 3 trough. Has new support been confirmed? Fourth, the yellow arrows mark a potential basing pattern with a low, lower low and higher low. That could also suggest its downward pressure is fading. Next, narrowing Bollinger Band Width may create potential for prices to expand after a period of compression. Finally, Micron Technology’s quarterly report on September 30 may serve as a potential catalyst to refocus attention on the chip industry. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. Learn more here about TradingView’s Broker of the Year! Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.