1 reply to this topic

[SemiBizz]

The implications are HUGE for the broad market should we break the B points tomorrow on VOLUME

SPX-1324

NAS-2219

DJI-11582

Things to be considered here..

1- $XAU- leads the market and broke below it's 2007 low and closed there today.

2-SOXX-leads the Nasdaq, has not tested it's 2007 low like all the other major indices and is 22 points above it.

Edited by SemiBizz, 13 March 2007 - 08:55 PM.

[SandStorm]

Semis were rejected again at range top for god knows how many times already since August of last year. There are already many on the board who are doing a superb job of reading the indices so I won't go there. Instead, I look at high-profile tech names like aapl, akam, brcm, crm, goog, nvda, rimm, sndk, etc., and they are either on the verge of breaking down or just broke below either the 50 or 200ma or coming up againt them and that puts the nasdaq in a very vulnerable position to a selloff, imo.