StrategicTrading

StrategicTrading 21 views ・

The Software Sector is near a decision point. Watch the Flag level next week. A close below that could take $IGV down to the long-term Shield trendline. A close above last week's high targets new all-time highs in IGV.

StrategicTrading 26 views ・

The S&P Futures have broken their short-term uptrend line, and backtested it overnight. RSI support is in play now. The market's behavior around this RSI trendline during the afternoon will give us a signal on the next move (to 3024, or 2960). I'm thinking the RSI trendline holds for now, but we won't know for sure until the closing bell.

StrategicTrading 46 views ・

Semiconductors are pulling back from Price and RSI Flag Resistance Levels. This is the same chart that I posted earlier this week. Breaking yesterday's low could send $SOXX to the 18 day moving average. I will probably buy that and Flag support, which will be near $209 later next week. A break of Flag Resistance or Flag Support on a closing basis unlocks a much...