Posted by chartboy on 31st of Mar 2021 at 02:39 pm
Just finished posting about how instead of trading GLD to take
advantage of the macro patterns in the dollar/rates/metals markets
I was describing, fast money could go out and snatch tech and semis
off the open....and ten minutes later John Murphy mails out the
following....(this is not stuff I make up off the top of my head.
Lol)
“
TECHS ARE HAVING A STRONG DAY... Technology stocks are the day's
strongest sector which is helping boost the Nasdaq market. As a
result, the Nasdaq is leading today's rally. Chart 1 show the
Invesco QQQ Trust trading 1.8% higher today and nearing a test of
its 50-day moving average. The QQQ may also be heading for a test
of a small "neckline" drawn over its March highs. A close above
that resistance line could push prices closer to their February
high.
Chart 2 shows the Technology SPDR (XLK) already trading above
its 50-day line and heading toward a test of its March highs. The
XLK is the day's strongest sector. Semiconductors are helping lead
the XLK higher. Chart 3 shows the VanEck Vectors Semiconductor ETF
(SMH) trading at the highest level in a month. My Friday message
showed three chip leaders to be Applied Materials, Lam Research,
and KLA Corp. All three are having another strong day.”
Just finished posting about how
GLD filled yesterday gap
Posted by chartboy on 31st of Mar 2021 at 02:39 pm
Just finished posting about how instead of trading GLD to take advantage of the macro patterns in the dollar/rates/metals markets I was describing, fast money could go out and snatch tech and semis off the open....and ten minutes later John Murphy mails out the following....(this is not stuff I make up off the top of my head. Lol)
“ TECHS ARE HAVING A STRONG DAY... Technology stocks are the day's strongest sector which is helping boost the Nasdaq market. As a result, the Nasdaq is leading today's rally. Chart 1 show the Invesco QQQ Trust trading 1.8% higher today and nearing a test of its 50-day moving average. The QQQ may also be heading for a test of a small "neckline" drawn over its March highs. A close above that resistance line could push prices closer to their February high.
Chart 2 shows the Technology SPDR (XLK) already trading above its 50-day line and heading toward a test of its March highs. The XLK is the day's strongest sector. Semiconductors are helping lead the XLK higher. Chart 3 shows the VanEck Vectors Semiconductor ETF (SMH) trading at the highest level in a month. My Friday message showed three chip leaders to be Applied Materials, Lam Research, and KLA Corp. All three are having another strong day.”
Learned today and made money.
Posted by retirefire on 31st of Mar 2021 at 03:03 pm
Learned today and made money. Great board