Tag Archives: SOX

Market Leaders Abdicating

The Russell 2000 obviously has an ugly topping pattern.  It has long since nudged to a lower low to the August low and now has eased below March and January.  If it holds below the line this thing will be in a bear trend.  The bears should hope that TA geniuses do not come out and blow horn the DEATH CROSS!!! of the MA’s 50 and 200, which is a Red Herring.  The chart is bearish enough without the help of that hype.

rut

Anyway, RUT was a leader to the upside on this most intense bull market phase, which has been the post-2012 period and that leader is starting to lose its bull market.

Continue reading

Semiconductor Index Still on a Bullish Signal

Frankly, by daily charts I think the Semiconductor index and several other US markets are too far above the 50 day moving averages and soon due for a breather.  But a big picture signal we first noted in March continues apace.  That would be the SOX similarity (Bollinger Band creep) to its state in 1999.

sox

Per the chart’s question, SOX did indeed close March (and April and May) above decade-old resistance and it continues to creep up along the top B Band.  This and the Tranny can be considered Gate Keepers to the potential for a manic market blow off.

SOX Having an Issue @ the MA 50’s

Time for bulls to get out their Gox Box Sox because the Semiconductor index is negatively diverging and having an issue at the 50 day moving averages.

sox

US Stock Market; Bounce Upcoming?

The US stock market is negative pre-open, but don’t be surprised if we get a strong bounce soon.  It could be a trade-able bounce.  I have bought a couple items in anticipation and am watching several more.

A bounce is a bounce; a trade.  It is what happens on a would-be bounce that will be important going forward.  What will the market do at resistance?  That will tell us a lot about what this thus far mini correction will be, another quickie or something more lasting.

SPX has firm support at around 1800.

spx

One of the leaders, NDX needs to bottom shortly and make a ‘higher low’ to February or it is going to activate a bearish intermediate signal.

Continue reading

Red SOX?

red.soxThe SOX Semiconductor index is unbroken and still on the potential market melt up/blow off plan.  The daily chart shows the support critical to this plan.

RSI is fine above support, but the shaded area shows the level it dropped to in early February in case this ‘correction’ (so far just one big, scary candle) bites deeper as I suspect it will.

Continue reading

NFTRH Update, US Stock Market

[edit]  Pardon the ads on these posts, but I have finally made the decision that public site readers can put up with some ads at the site, given the amount of information they get.  I am not able to disable ads for private posts but as always, all premium updates will be delivered right to your inbox, add free. 

The reversal in US markets is coming after a period of under performance by large tech stocks and the momentum darlings like YELP, FB, TSLA, and of course, my personal whipping boys, the 3D Printers.

Continue reading

Semi Bullish Again?

The Semiconductor index made a bearish engulfing candle after making a new high a couple days ago.

sox

I shot first and didn’t ask questions, selling the Semi’s and in particular Silicon Motion (below) on the drop below former support (now resistance) and now going to long SIMO again with the 50 day moving averages as a tolerance line.

Continue reading

Protected: NFTRH Update, US Markets (weekly charts)

This content is password protected. To view it please enter your password below:

Decision Point for the Semiconductor Index & Hence, the Market

The SOX is dropping to the 10 year support line.  We will now see what bulls are committed and what bulls are not as the market takes a moderately scary drop today.

sox.day

For perspective (always a good thing), here is the monthly view again.  It’s for all the marbles in the ‘will they or won’t they (blow off)?’ sweepstakes with regard to US stock markets.

sox.mo

Semiconductor Index at Critical Resistance

1+ years ago… that was when we became alerted to the positive projections in the Semiconductor equipment sector, which meant that Semiconductor companies were ramping new inventory builds.  This had positive implications for manufacturing as a whole since the Semi’s are a canary in the coal mine.

Today the canary is at critical long term resistance.  That is all; no grand statements about what it is going to do or not do.  But we can say that if resistance holds a bear case on the markets and the economy will probably gain an ally.  If it breaks out, the measurements are noted.

sox

Semiconductor Index, Target Just Above

Here is the progress another leader is making toward a well defined target.

sox
SOX daily