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S&P Broke Key Support but Oversold Conditions Could Help Minimize Downside Follow-through

the long awaited downside correction unfolded Wednesday, leading to a test of support at S&P’s 2785, or the bottom of its short-term trading range. Market internals deteriorated but oversold conditions could help minimize downside follow-through and widespread breakdowns. Nevertheless, we may need to see evidence of exhaustive selling to suggest that near-term risks are ebbing

Trading Strategy – iShares PHLX Semiconductor ETF

  One of the more noteworthy developments in recent days has been the move in semiconductor space.  The marvelous run of the semiconductor stocks that started in the second half of 2016 stalled in late November amid worries about the end of super cycle.  After falling for most of the week, the iShares PHLX Semiconductor …[read more]

Trading Strategy – iShares PHLX Semiconductor ETF

  One of the more noteworthy developments in recent days has been the move in chip maker stocks.  The semiconductor sector bucked the overall trend after Nvidia (NVDA) posted earnings per share and revenue that easily beat analyst expectations. The company’s stock rose 5.3 percent and was the best performer in the S&P.  Semiconductor has …[read more]

Trading Strategy –  iShares PHLX Semiconductor ETF

  Semiconductor has been garnering much media attention lately. The iShares PHLX Semiconductor ETF (SOXX), fell 2.53% Thursday to close at 145.13. The ETF however, still shows a nice gain of more than 18 percent YTD. Now the question is “whether recent pullback is a pause that refresh or a beginning of the end?” Below …[read more]

Trading Strategy –  iShares PHLX Semiconductor ETF

  Risk-on is back and semiconductor is leading with the iShares PHLX Semiconductor ETF (SOXX) jumped 2.54 percent. After surging more than 36 percent in 2016, the ETF is up more than 20 percent YTD. Now the question is: “whether the rally has more legs?” In accordance to our “U.S. Market Trading Map”, there could …[read more]

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