S&P 500 Daily Chart Analysis – April 21

As I've been discussing with Premium Members over the past week or so, the S&P 500 is starting to get into a position for a nice move higher, potentially as high as 1440.   On the chart below let's notice a few key parts.  First, the 50% retracement of the December lows to the February […]

Why S&P 500 1,300 is important, until it fails…

The simple reason why SPX 1300 is important is because that's where we bounced from today.  Two more things I'd like to point out however, that give 1300 a little more resiliency. One, 1300 served as resistance in mid March and two, it's also between the 38.2% and the 50% Fibonacci retracement level.

Semiconductors (SMH) May Trade Lower

After trading up in a nice and night upward channel from September 2010 until early March of this year, the semiconductors swiftly sold off by the tune of almost 10% in just eight trading sessions.  From quick move down, the SMH has now retraced (moved up) a little over 50%, which also coincides with the […]

Are Semiconductors About To Take-Off?

Last week I wrote about the nice short setup in semiconductors, with a clearly defined risk stop at an important level.  Let's look at the chart of the SMH (Semiconductor Holders Trust) ETF:  When SMH found resistance at the 50 day moving average (yellow line) and started moving lower it looked like a classic 50% […]