There's still a bit of work to be done to confirm breakdowns on SMH & SOXX although XSD gave up the ghost (so far) today with an impulsive breakdown below its bearish rising wedge pattern: XSD daily March 21st I believe there is enough evidence in the charts today to add any of [...]
Members @ww0987 & @Ruben had requested an update on the semiconductor sector. XSD (SPDR S&P Semiconductor ETF) has been clinging to the bottom of this large rising wedge for weeks now & but has yet to confirm a sell signal with an impulsive breakdown & solid daily close below the wedge although best to wait to [...]
INTC (Intel Corp) has broken down below the uptrend line off the Aug 2015 lows, opening the door for a move down to at least the 33.50 support level, should the stock fail to regain & close back above that trendline soon. Still awaiting an impulsive break & close below this bearish rising wedge pattern [...]
Technical analysis on the US stock market via SPY, QQQ & IWM as well as GLD, GDX, SMH, XSD, SOXX, XLF & XBI.
I've clearly stated my expectation for a correction in the semis recently & just wanted to share some thoughts on how to position for a correction in the semis, for those that share my outlook for the sector. In doing so, I also wanted to address the advantages & disadvantages of trading leverage ETFs in [...]
Detailed technical analysis on the semiconductor sector via the ETFs; SMH, XSD & SOXX as well as several of the largest semiconductor stocks, including critical support levels/sell signals & price targets.
A quick update on a couple of the things that stand out this morning. First, GLD (Gold ETF) has gapped down below the purple rising wedge pattern. I still don't care to short it & just plan to watch to see if it can regain the wedge shortly or for the next objective long entry [...]