Friday, December 02, 2016

Semiconductors Hit Hard

Internet troubles have limited me tonight, but the one chart I want to show is the near 5% loss in the Semiconductor Index.  Having escaped relatively unscathed from recent day's selling it was a whirlwind of action for the index today.

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Wednesday, November 30, 2016

Small Caps Maintain Selling - Tech Joins In.

Sellers kept pressure on the Russell 2000 with the Nasdaq and Large Caps also partaking in the profit taking merrymaking.

Large Caps had begun with a boost, the Dow in particular had started well, but was pegged back to finish with an inverse 'gravestone' doji. With sellers picking up the pace in the Nasdaq and Russell 2000 there is a good chance the 'gravestone' doji will hold to its name and deliver trouble tomorrow.

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Tuesday, November 29, 2016

Bulls Make Comeback

It didn't last long, but sellers quickly ran out of steam. Monday had the look of a profit taking, but buyers were quick to make a reappearance. Will markets make it back to Fib retracements? They look a long way way away.

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Monday, November 28, 2016

Russell 2000 Experiences Profit Taking

Friday's partial trading delivered a final boost before holiday hangover selling kicked in. There is plenty of room for profit taking in the Russell 2000; look to Fib retracements for pullback opportunities. One thing I had missed was the profit take warning in this index; the Russell 2000 has tagged the 14.3% and 12.3% push above its 200-day MA which is in the 10% zone of historic price action dating back to 1987 (see table at the end of this post).

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