Options777
06-28

Stretching out the chart for $S&P 500(.SPX)$  $VanEck Semiconductor ETF(SMH)$  $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ , the current dip is a minor pull-back and shaking out those who are panicking after the 3 months of all time highs.


The sell-in-may event this year got postponed till mid June because of the Iran war and the world cup. Big boys traders are taking a delayed summer break now thus the money flow is mainly algorithmic by the market makers.  I expect to see more catalysts coming in late July onwards and hopefully we will resume a bullish trend towards mid terms.


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Modified in.06-28
Dow Drops 464 Points Ahead of Jobs Data — What Does Tonight's Print Need to Show?
U.S. stocks fell broadly Thursday — Dow −464 points (−0.85%), S&P 500 −0.18%, QQQ −0.37% — with Treasury yields and crude both higher. Everything points at July payrolls tonight (8:30 a.m. ET / 20:30 Beijing): consensus near 80,000 against June's 57,000, unemployment holding at 4.2%. The cooling evidence keeps stacking — ADP at 44,000, openings down, ISM services employment at 47.4. Gentle cooling with contained wages pulls yields lower and gives AI and semis valuation room; a hot print revives September hike bets. Tonight, watch the number or the wages?
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Comments

  • pizzi
    06-29
    pizzi
    SMH still looks like a reset, not damage. If flows turn back late July, semis can rip again no?
    • Options777: 
      not sure what does damage means here but SMH is still moving above 30 and 50 day Moving average. the momentum is still going very strong, semis just announced price increase from July onwards, so funds should rotate into Semis, hyperscalers and cloud providers will continue to suffer
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