EW Semis making new highs and new relative all-time highs..
EW Semi's moving higher on both an absolute and relative basis
Although no longer necessary a sweep of the highs to 100 would make XSD much easier to trade as we enter into the next economic cycle down. Those following in the Telegram will know I have been tracking the highs in Consumer staples from a Waves perspective here: As the final target has been reached which coincides with a Technical double top (at least so far...
possible 1/2 position march15 95P. add on second break $XSD $SOXX
looking at those puts, trading at 0.32 currently $XSD $SMH
another option position on lower low playing the trend. always nice to buy on a green day for slight discount $XSD $SMH $QQQ AH helped
We can see clearly in this x-ray of the major index of USA there is a clear evolution in the last 3 months, you can clearly identify two sides, One that of the winners, made up of sectors such as;; Kie ( insurers ) / ITA ( defense, aerospace ) / splrct ( tech s&p 500 ) , . and on the other , you can see the side of the losers, :: made up of sectors of :: kbe (...
As you can see, we are way above the mean. RSI has been OB for too long on the weekly chart... it is time for a retracement. I am not in trade yet, waiting a couple more days for confirmation.
#XSD is the next stock with hammer on support. Good opportunity to earn money with good R/R. Stop loss below support ~83.25 and take profit on first resistance ~91.94.
In the short term, it would appear that a descending triangle has formed as SYNA tests the support line. This downward movement is more or less being caused by a sell off in equities triggered by Greece. A break below support may carry SYNA to 78. However SYNA is near 2 STDEV's and has remained oversold now for a while. A correction may be possible. For the long...