@koolgal:Semiconductor stocks performance is the key barometer for the broader market and economy. Chips are used in appliances, data centres, gaming, EVs and even artificial intelligence.Have the semiconductor stocks bottomed yet? In my humble opinion NO.With inflation at all time high, rising interest rates, the war in Ukraine, increasing oil prices, the global economy is slowing down. Hence there is lesser demand for chips.However there are still demand for chips especially in the EV industry. Elon Musk said that his gigafactories in Austin and Berlin are "burning furnaces" due to supply constraints of raw materials especially chips.Data centres are still humming along as their demand for chips continue to grow. I like
@Elliottwave_Forecast:Elliott Wave View: GBPJPY Correction Can ExtendJune 24, 2022ByEWFHendraShort term Elliott Wave in GBPJPY suggests cycle from 12/3/2021 low has ended as wave ((1)) with the rally to 168.7. Wave ((2)) pullback is currently in progress to correct cycle from December 2021 low. Internal subdivision of wave ((2)) is unfolding as adouble three Elliott Wave structure. Down from wave ((1)), wave A ended at 161.31 and rally in wave B ended at 163.8. Pair then extended lower in wave C towards 159.96 and this completed wave (W).Wave (X) rally ended at 167.856 with internal subdivision as a zigzag structure. Up from wave (W), wave A ended at 166.22 and pullback in wave B ended at 164.44. Final leg higher wave C ended at 167.85 which also completed wave (X). Pair has started to turn lower in wave (Y). D
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