One of the more noteworthy developments in Monday session has been the move in semiconductors. The group rebounded nicely, cutting losses from last week led by a 9.2 percent gain in Advanced Micro Devices and a 3.5 percent jump in Broadcom. The VanEck Vectors Semiconductor ETF (SMH) rose 0.97 percent to 106.86, up nearly 10 percent YTD while the S&P gained nearly 8 percent over the same period. Now the question is whether the rally has more legs? Below is an update look at a trade in SMH.
The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red.
Chart 1.1 – VanEck Vectors Semiconductor ETF (weekly)
Our “U.S. Market Trading Map” painted SMH bars in green (buy) – see area ‘A’ in the chart. The first dominant feature on the chart is the rising trend line starting in mid-2015. The second dominant feature of the chart is the early 2018 massive triangle trading pattern, which represents the digestion period…Click here to read more.
You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.
This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?
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