Tag: iShares PHLX Semiconductor ETF

Additional Consolidations Could Unfold Between S&P 2860-2900

although Wednesday trading action was very encouraging, there is no reason to turn particular bullish unless the bulls manage to take out key technical resistance at the important sentiment 2900 mark on the S&P. Our near-term technical bias is that for the near-term further consolidations could be unfold between 2860 and 2900. Short-term traders could play the range. However, markets are volatile and traders may prefer not to hold large positions overnight

Positive on Stocks over Short to Medium-term

our work on price pattern and momentum suggested that S&P could be in an early stage of a distribution phase, in which overall sentiment continues to be optimistic, with expectations of higher market levels. On balance, we remain positive on stocks over the short to medium-term

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