Ok Semi, you are absolutely right to point out the divergence of Semi's with NDX, and SPX for that matter. That is reporting and still appreciated. But care to share what you are forecasting VST for Mon or Tues? Do you think that the divergence will matter and drag the NDX and rest of the market down? Do you think that INTC or SOX will close the gap?
Even if you don't care to forecast, if they do close the gap and assuming that it is on the same pathetic volume that we've been having, I assume that that might be grounds for a bullish spring from your point of view?
Echo
Our Forecast for ES posted Friday Afternoon:
Another run at 1110 Friday, this time we managed to close higher at 1109.50. Now there is a little noise here as we roll forward into the December contract. In the December Contract we had a sign of weakness, but that could be just due to the volume surge into the new front month, so for now we're going to make a note of it here, but discount the signal. If I add both the September contract volume and the December contract volumes together, we end up with a more normal picture. So for now we're leaving the guidance unchanged. As long as 1100 holds we are in position to go higher, and if we can get over 1110 and hold it it does open up possibilities at 1114-1116. We do have OPEX next Friday, and today also qualifies for another NR7 day on ES. So we're expecting that wide range day to come one day of next week, take precautions.