If my call for a 3.2% drop in QQQ from current levels (down to 149.21) pans out, this is my expectation for SOXX, a drop of roughly 6% from current levels. Next objective short entry on a break of the minor (white) uptrend line, then the 173.55ish horizontal support level. Also note that should SOXX [...]
Thursday's reaction low taken out in SPY & QQQ today, increasing the chances that my price target will be hit (another ~2% downside at minimum as additional target might be added). Also note that the 60-minute trend indicators now bearish on both SPY as well as QQQ. With the Nasdaq 100 poised to fall, the [...]
Technical analysis of the stock market, crude oil as well as several swing trading opportunities that stand out at this time. The following securities are covered in this order: /CL (crude futures), XOP, XLE, NVDA, SOXX, SMH, XSD, CRUS, QCOM, XLP, XBI, SPY, QQQ, & IWM. Playback speed can be increased in the video settings [...]
The semiconductor sector is approaching the key primary uptrend line support following the recent divergent high. The sector still looks poised for a significant correction with a sell signal to come on a break & close below these respective trendlines on the following three semiconductor ETFs; SOXX, SMH & XSD. Additional confirmation for [...]
A brief (8 minute) overview of QQQ, SPY & the semiconductor sector via SOXX, XSD & SMH.
The recently highlighted 60-min divergences (first chart below from Aug 18th) have been confirmed with QQQ bouncing today (2nd chart). Hard to say how far they will play out but with the outlook for the more significant daily time frame bearish, my expectation is that this bounce will likely be capped by any of the [...]
Analysis of the semiconductor sector via the ETFs; SOXX, SMH & XSD along with TSM. Also discussed are some general considerations & strategies when swing trading or investing. The video playback speed can be increased via the settings icon at the bottom right to reduce playback time. I've also inserted static images of the charts [...]