Here is the progress another leader is making toward a well defined target.
On Monday I put up a chart of the junk bond fund HYG, showing an impulsive drop in that garbage with the implication that speculative urges were bleeding out of the market. Then I looked at the same chart later and they had magically fixed it. There never was a decline… April Fools! Seriously, what was up with that?
Well, let’s see if they can paint the SOX.
This chart sucks.
Party on Garth! I talked with my semiconductor contact 2 days and he says still D.E.A.D. But look at SMH go, will ya?
The target is 34 based on this breakout and assuming FOMC does not do or say something untoward tomorrow to reverse it. It is funny how gold is declining with USD and Long Term T bonds, while the regular market gets Garth good and plastered on what one would assume is QE punch.
Got to love the holidays.