I'd like everyone's input. Kind of like a forum if we could. Explain what your seeing from your perspectives and back it up with technical info, etc.
I'm currently short the SMH with some 11/22 $129 puts, but I'm considering only holding half of them through NVDA earnings tonight. I personally don't think they'll outperform...especially since they've had an incredible run in the past month. This is why I'm leaning bearish on SMH and the market as a whole. GLTA.
What's your perspective?
Trade active
⋅
Bearish divergence on the SMH. That money flow divergence for the weekly chart is quite significant. I expect a sell-off unless NVDA somehow has a spectacular upside surprise. Next level is the 10day $126-$128
Comment
⋅
Trade active
⋅
SMH is trying it's best to stay in the recent triangle formed. Looks weak though.
Trade active
⋅
SMH - New low of day. $132 is the line in the sand the bears need to push it below in order to create massive selling pressure.