Semis still the bright spot
The markets are still looking fragile. And the levels I am watching are still holding specifically 4400 above and 4165 below. So until either one of those levels are taken out via price action, I believe there is no clear indication which direction the market will decisively take in the near term.
As alluded in the previous article, I am leaning towards another upswing in the short term into the year end. It is either we swing upwards from here on and that will be highly probable if 4400 clears or the broad market index dip towards and holds 4165 before rebounding and rallying beyond 4400. 4165 is the lowest I am willing to see the market goes for this bullish count. (Do take note this bullish count is just postponing the C wave down to the end of the year. So I am still very cautious moving forward.) Lower and I believe the market has topped and is in the early parts (Wave 1) of the big C wave down towards the 3000 levels.
Henceforth, I am still lightly hedged and positioned cautiously. I believe if there is another swing upwards, tech and semis are still the areas to be in and I particularly like the technical pattern of names such as AMD and AEHR.
Disclaimer: Please kindly do your own due diligence as this is a sharing article and in no means financial advise. I am just sharing my opinions and thoughts.
Thanks for reading my commentary. Hope it helps!
Stay safe! đ
$Semiconductor Bull 3X Shares(SOXL)$
Comments
Not bullish on tech stocks this time. Semiconductors may suffer
anyone read the article about nvda head engineer is one of the hamaas captives
either down or up lets see.