johnny2012 looks like we can get a test of some lows on a weaker economy possible. Good luck today. 

Stopped at resistance and so did SMH:QQQ so far. SMH up about 1 percent so far. All expensives MU STX WDC AMD MRVL TSM in the red.

SOXL covered about 140 area. 

Will see if it stops at 50 day resistance or not. Put out small short SOXL 144.89.

Closed out  position last evening in view of Big Jobs report this a.m.  

Right johnny it is acting poorly too. I think NVDA is heading to 230 to 240 before 26th like it always does. 

I really think the pressure will be off Semis as I think no more significant earnings until MRVL  NVDA in the 26th and 27th of this month. They may drift higher into the top of the 5th on weak volume then when the two stocks struggle and pull back to 540 area. IMO.

johnny 2012 would like your thoughts on the possible inverse head and shoulders bottom that  MIGHTbe forming? I am still short term cautious still though. 

Testing  50 day resistance several times too. RSI also trying 50 line also.

Notice where SMH daily chart stopped today. Is it starting to set up and inverse head and shoulders  bottom ?  I did take a small short while out around 140 area. Your thoughts about the inverse bottom? NVDA was acting well until today and it is double weighted in SMH too.

Bulls from 31 to 37 percent Bears drop from 42.1 to 38 percent.

You are CORRECT sold 132.90. Off to the Lake for the day in the mountains. See you. Next important earnings later this month 26th and 27th NVDA MRVL. Could see mild drift higher could happen.

I started slowly buying 121 this a.m. Am not quite a bearish as you are.

Still failing to breakout as Matt suggested in last nights update. Am looking to slowly start to go long as we approach oversold next few days. Still like Stock Traders Almanac lows early in August. 

johnny2012 looks like we are going to have fun today. 

Looking for short term Oil rally but very low prices near mid term elections this year. 

Just heard on CNBC that generated well over 35 percent VIX move to upside.

I am watching Stock Traders Almanac chart for this SMH summer and expect SNDK might cause more weakness and flush out more longs. But by mid next week selling could exhuast itself. Good luck. You probably saw the POST I made a few days ago. 

So far Stock Traders Almanac I mentioned post of SMH playing out well. Weak August and September for sure. Low about first week of August to bounce up later part of month then generally lower into lows September. Good luck.

johnny2012 I bet you are looking at it closely.