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Stock Market & Semiconductor Sector Analysis

Technical analysis highlighting some recent developments & key levels on the US stock market & semiconductor sector via SPY, QQQ, ES, NQ, SOXX & XSD as well as some of the leading semiconductor stocks.

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2018-06-18T12:18:21+00:00Jun 18, 2018 12:18pm|Categories: Equity Market Analysis|Tags: , , , , , , , , , , , , , |3 Comments

3 Comments

  1. BIGBADWOLF June 18, 2018 1:22 pm at 1:22 pm

    Thanks for great analysis! Any thoughts on whether MU can push to a new high with earnings coming this Wednesday? Also, it seems to me that NVDA was holding up to keep the bull trend above 9 day moving average. Today NVDA traded below its 9 day moving average after breaking down from the wedge, and the 9 day moving average is flattening out. So perhaps it’s very close to a correction that may happen as early as tomorrow.

    https://www.tradingview.com/x/aFn87mcx/

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    • rsotc June 18, 2018 1:50 pm at 1:50 pm

      From the look of the charts, including its proximity its previous high, MU could certainly pop to new highs on earnings. Of course, it could (and will) go either way but MU is one of the semis that is still trading above its primary uptrend line although it the most recent high was a divergent high and the semis, including INTC, are starting to crack. Always a crap-shoot holding into earnings but if I had to take a long or short position in MU & throw away the key for 6-12 months, I’d rather be short.
      AMD & NVDA are the two big GPU makers so any good or bad news for AMD on Wednesday is likely to carry over to NVDA.

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      • myrightside June 18, 2018 3:14 pm at 3:14 pm

        Of course anything can go either way

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