Tag: iShares PHLX Semiconductor ETF

S&P Takes A Short-term Breather

our near-term work on price structure and momentum suggested strongly that the S&P might take a breather from its recent thrust to new highs. As for strategy, traders should consider purchase stocks during declines in the market rather than chasing breakouts

S&P Pullback Presents Buying Opportunity

our near-term work on price pattern and momentum suggested strongly that the S&P is in a midst short-term pullback correction phase that could last about 5 to 10 trading sessions. While the near-term technical bias is skewed toward further weakness, the bulls should not get into any serious trouble as long as the market holds above 3075. As for strategy, pullback will present a buying opportunity, while selling into strength may not be the best strategy in a market considered likely to bounce back

S&P Shooting Star Pattern Signals Potential Trend Reversal

Thursday’s bearish shooting star candlestick together with the fact that the S&P is overbought as it tests key overhead resistance suggesting that a short-term pullback consolidation is inevitable. There’s a high probability that the late-day selloff will momentum but an undercut below the 3050 is needed before there is any real prospect of a change in the short-term uptrend pressure

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