Posted by DigiNomad on 1st of Jul 2022 at 01:24 pm
SMH pierced the 200 Week EMA. Will it reverse above before the
close? Seems like kind of a big signal for the economy considering
it hasn't spent any time below since 2011.
Posted by howardmilano on 2nd of Jul 2022 at 07:27 pm
I don't look at how the semis are in relation to the MA's, but I
do see the semis just made a new lower low on the daily. No
market bottom before we see the semi's make higher lows and higher
highs.
yes Semis are a problem, they are testing a lower trendline that
could act as a support and they are very oversold now, so we'll see
if they can bounce off that or not
Posted by DigiNomad on 1st of Jul 2022 at 01:30 pm
SMH also sitting on 50 Month EMA. That has marked the bottom of
every major correction since 2015. But in every case there
was a spike down with a doji vs a full candle approach like we're
seeing now. Looking back at when it touched with a full candle
instead of a quick spike down, it looks like it always continued at
least a bit lower before finally recovering.
SMH pierced the 200 Week
Posted by DigiNomad on 1st of Jul 2022 at 01:24 pm
SMH pierced the 200 Week EMA. Will it reverse above before the close? Seems like kind of a big signal for the economy considering it hasn't spent any time below since 2011.
I don't look at how
Posted by howardmilano on 2nd of Jul 2022 at 07:27 pm
I don't look at how the semis are in relation to the MA's, but I do see the semis just made a new lower low on the daily. No market bottom before we see the semi's make higher lows and higher highs.
yes Semis are a problem,
Posted by matt on 2nd of Jul 2022 at 07:34 pm
yes Semis are a problem, they are testing a lower trendline that could act as a support and they are very oversold now, so we'll see if they can bounce off that or not
SMH also sitting on 50
Posted by DigiNomad on 1st of Jul 2022 at 01:30 pm
SMH also sitting on 50 Month EMA. That has marked the bottom of every major correction since 2015. But in every case there was a spike down with a doji vs a full candle approach like we're seeing now. Looking back at when it touched with a full candle instead of a quick spike down, it looks like it always continued at least a bit lower before finally recovering.
All one has to do
Posted by steve on 1st of Jul 2022 at 01:29 pm
All one has to do to get a feel for the economy is to get away from the computer and go speak directly with all your neighbors (real people).