No, I’m long semis

U shorted the spike ?

It started the party for me lol. It could quickly fade at the open but I’d rather that than a plunge from earnings at the start. To me the market is just consolidating like it did 6 months ago and I do not see a major move right away.

Here’s my daily chart of NET. The stock is in an uptrend for now, without any sell signals, although the negative divergences that were in place at the Oct highs, which lead to a 40% drop in the stock, weren’t “reset”, but have only grown larger since then.

As such, another big & quite likely, even bigger drop appears likely with a sell signal to come on a solid break below the minor uptrend line that NET is currently testing as well as the 200-day MA’s, which come in just below it. Any or all of the levels below on this chart, including that primary uptrend line (current preferred target), are potential downside targets.

Whether or not that happens soon will likely depend on whether or not the current QQQ short trade hits my T4 current final target (a ~15% correction in the $NDX off the recent highs).