$SOX has long been the growth engine of the $SPY. It has now entered a bear phase, being well below the 12 month SMA on the monthly chart, which now serves as resistance. We may be witnessing a paradigm shift in the market, where commodities, precious metals, and staples lead the market and the old growth stocks, lag. I hold no hope out for semiconductors at the moment.
There is no better crystal ball to predict the future performance of an asset than its own chart. Keeping it simple, TSM broke bellow a 15-month lateral range, and several days later failed to reconquer the lost grounds. It's been under distribution, and the last candle is the most bearish. TSM won't be able to hold at support and will continue lower.
All indexes have now rallied back to drop the put/call and to peak in the time cycle peak march 25thn I maintain we are going to drop very hard into april 7/10
Strong rally this week w/ March FOMC behind us. Can we clear the death cross? Folks on the sideline may have to chase soon $NQ_F $NDX $SOX $ES_F $SPY $SPX $TLT $TNX $GLD $DXY $VIX #Trading #Stocks 📈
I am seeing a collapse in high grade Corp debt based on fib relationships the focus point is all at 117/118 if we break this then I think the whole thing comes apart for everything .
SOX continues to set lower lows. Two scenarios, one (green zig zag) is a reversal into cloud resistance to 3544. This would be a 78% extension from low point C. The other scenario (red zig zag) would be a 1.78% extension from point B. The RSI is in a solid downtrend, and the point & figure chart on the daily has a target of 3001. If I were waging bets, I would go...
Since we're now below the 200 MA and re-confirmed the prior resistance levels we are looking to create a new range. The Market is full of fear right now, Rate hikes, emergency FED meetings, fears of a war in Ukraine, Long term fears of stagflation, or recession. When you see the solid companies in this sector (NVDA, AMD) getting hit you know people are selling...
Secretary of Commerce Gina Raimondo: “The semiconductor situation is going to take a long time to fix” “This is one I feel confident saying it's not going to be fixed in a month or two, or six, or 12 months.” For now PHLX Semiconductor (^SOX) is oversold and we can see in the chart what was the price movement after the last oversold area. I expect to be the...
Channel break led to a A-B-C correction. Many calling for a 5th wave down (possible) but know a "V" is possible too. $AAPL 💪🏼 powering us off 338 support today $NQ_F $NDX $SOX $ES_F $SPY $SPX $TLT $TNX $GLD $DXY $VIX #Trading #Stocks 📈
I have been waiting for a long while for SOX to fill that gap at 3592.76. Closed today at 3612 on the daily, and gap fill would put it at the bottom of Ichy cloud support, and just below 50% fib. Note the Gartey extension D at 1.38 right on the gap fill line. Should get a bounce from point D, and remember, SOX most always leads SPY....
Failed to breakout in Q4 like we thought. Green hammer right at the bottom of channel today. As long as this channel holds a "DotCom" type melt-up is possible $NQ_F $NDX $SOX $ES_F $SPY $SPX $TLT $TNX $GLD $DXY $VIX #Trading #Stocks
We have ended into a Month in history with the highest level of major market tops outside of late aug 17 to sept 10 thru out the markets history . at THIS POINT and the wave structure as well as fib relationships within the the wave structure . I can now say we are setup for a CRASH cycle I think it has started and will see it over the next...
As I keep saying, the SOX is truly considered as the market barometer. And today, pre-US market open we have a clear engulfing candle that is also breaking the the Kijun Sen. Do we also have a double top? Of course, the candle still needs to close but nevertheless, it worth pointing it out for today's session. Trade Safe, Trade Smart! Glossary : TS = Tenkan...
The SOX is often considered as a strong leading indicator, so monitoring its evolution is always a good thing to do. For the moment, the SOX is slowly but steadily retracing, the first level of support on the DLY chart is the TS at around 3846. Breaking that level may push the price to the KS. If the KS break, than we will have a clear short/medium term bearish...
AMD currently at 144.01. Looking for the semiconductors to begin rotation. AMD targets "Areas" T1 136.88 - 135.75 T2 109.34 - 108.46 T3 105.32 - 104.64
Weakening Momentum / Weakening Sideways Trend. Range Expands - 4664.50 - 4750.25 VIX @ 20.20 is the Pivot, 2 Ticks of Under Pivot. _______________________________________________ Bonds caught the 8 AM EST SELL TNX + 3.91% ZN Teetering again @ 130.000
Quite a run helped by yields the past 2 weeks. Hitting top of channel. More likely to see rotation to $IWM, $XLF, etc. versus this breaking out "now" but possible $NQ_F $NDX $SOX $ES_F $SPY $SPX $TLT $TNX $GLD $DXY $VIX #Trading #Stocks 📈