Member
Posted 14 June 2019 - 11:55 AM
the smh looks like it did 5 waves down off of the apr 24 top
i think we are in an abc correction now which should go back up and hit the 50
if it hits the 50 and gets rejected and then takes out 97 on the downside
there is a good chance we are in a wave 3 down on the smh
the rest of the market is not as clear
all fwiw
Member
Posted 14 June 2019 - 12:34 PM
Whooaaa, easy there cowboy. They just gapped it down below support today. Currently at 102.42, the 200 is at 101, next support is at 99. I'd stear clear unless it closes above support. Even with the AVGO news, semis haveheld up well, but once it gaps below support like it did, beware. (JMHO)
Member
Posted 14 June 2019 - 03:30 PM
Through last Friday.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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Member
Posted 15 June 2019 - 07:57 AM
Through last Friday.
Fib
SMH is lower now than at the buy signal, right?
Member
Posted 16 June 2019 - 02:08 PM
SMH is lower now than at the buy signal, right?
Nope...101.36 compared with Friday's close of 102.66
Chart now updated through 6/14 and will automatically update each weekend after a new chart is posted.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
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Posted 16 June 2019 - 08:42 PM
Since the April 24 top on the SMH, which I am following, the daily red volume bars have been dominant, in addition the oscillators I am using are overbought on the daily and in addition June is more of a bearish month according to the seasonals at Stockcharts.com so the path of least resistance is down and it may be settling into a bottoming pattern.
F&D
Member
Posted 16 June 2019 - 10:11 PM
Since the April 24 top on the SMH, which I am following, the daily red volume bars have been dominant, in addition the oscillators I am using are overbought on the daily and in addition June is more of a bearish month according to the seasonals at Stockcharts.com so the path of least resistance is down and it may be settling into a bottoming pattern.
F&D
smh looks to have finished a 2nd wave pull back and is about to explode upward in a 3rd wave
Member
Posted 17 June 2019 - 08:31 AM
When a stock or ETF has short term negative metrics like SMH and it is able to breakout in spite of it it leads to a more violent move so that scenario may play out and it would be good for the overall market. Until it shows that kind of activity I have to be cautious.
f&d
Member
Posted 21 June 2019 - 12:19 AM
i am watching the 50 dma if this thing sells off under 96
i think 75 area at least is coming. the semis tend to peak 6 months
earlier than the general market from what i have seen in the past
right now it is in limbo imo just watching
