After yesterday's large rally in INTC, the semiconductor complex almost completely destroyed a very bearish chart pattern in many semiconductor stocks, as well as in the SMH ETF. The point here is not so much to look into the details of the daily chart but noticing how hard INTC bounced off the $19 area, […]
The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts. While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided. As such I thought it would […]
Check out the 61.8% Fibonacci retracement level that held earlier this week on the SOX. Just something to keep an eye on.
Semiconductors as a group remain looking weak as displayed by the SOX index below and should slide lower. Two things however; 1) the SOX index is no longer as representative of the semiconductor industry as it used to be due to foreign listed competitors adn 2) Intel is back below the $22 level and as […]