Bearish rising wedge daily chart has broken down recently and back testing the trend line. Objective short entrance. Negative divergent continue to grow on both RSI and PPO.
Semiconductors reached peak bulltard due to shortages. The uptrend started back in 2013 and was barely affected by covid. At the peak it was 40% above the weekly kijun. Interesting to see what happens. The next big short or just an expected correction?
Semiconductors/chips continue to be an essential part of everything around the globe. For a year, we have maintained an upward trend, which is being tested today. There are clear outperformers in the industry, but it is clearly been working for all of them as a whole. When we have touched the trend line in the past, we have had a 50 point gain, which has...
Has a decent gap to fill. Usually shortable above upper trendline. In NVDA puts, may add AMAT puts.
pretty cool huh? SPX 2012-13 and 2020-21 are also very similar
SOXX, the range bound sucker that won't die. This thing has a long ways to go if a correction comes. Short AMAT or NVDA.
The two overcrowded trades of 2021 are financials and Semis. May pick up AMAT shorts sometime soon.
My gut tells me this is worth a bet
We got our bearish divergence. Dip buyers will probably come in soon.
The party at SOXS is never that good. But sometimes things come together. As you can see when everyone has arrived it is time to leave and move the party back to SOXX.
One word: SAD. Buyers need to come in and push the price higher, otherwise we're looking at a double top situation.
On average a position was held about 7 trading days. Check out the strategy results below for detailed statistics.
Almost in the buy zone (box). Might start adding some tomorrow if decline continues.
Semiconductor sector seems ready for a trend change. Since the March low, the sector has ran up more than triple digit percentage. As much as the sector is damaged less than retail and hospitality, it is very cyclical sector and it does get affected by business cycle. Semi is the canary in a coal mine of the tech sector (XLK), so when this turns, it will be a...