Thursday, February 19, 2009

Stock Market Commentary: Semiconductors end the day down over 5%

The Dow may be making the news with its new 6-year low, but really the semiconductor index was the news. Only a couple of weeks ago it looked ready to lead tech higher. Now, its playing catchup - on the way down.


It's hard not see all the indices make new lows as the Dow did. Bulls will cling to the possibility of a divergence, perhaps with Small Caps holding above November lows. This is not outside the realm of possibility with the index oversold and some 45 points away from November lows.


But it's a big ask

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
 
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