Sorting SOXX
The iShares semiconductor ETF made a new 52 week low week before last and if AVGO is any sign of things to come, we may see more of these components headed to lower prices.
The iShares semiconductor ETF made a new 52 week low week before last and if AVGO is any sign of things to come, we may see more of these components headed to lower prices.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Crashy price action ends the week with a notable turnaround at key levels. Will it be enough to stem the bleed? Let’s define both ranges so we know what to do next week.
In this video I talk about how eventually we are waiting for another opportunity to short the markets down to the 2020 pandemics highs and lows in what could be another nasty Monday.
In this video I outline what severe selling would look like, and why I am considering it for the last week of May.
On Monday we discussed why Gold was at a level where it might bounce and it is, indeed, up from those levels. Let’s check back in and review what we need to see in order to think it might continue.
With no better bounce than Thursday the path of least resistance is still lower. There’s always the chance of a short covering rally, but until price ignites that move, I’ll be looking for bearish extensions.