The S&P also finished with a bullish 'hammer', but not enough to close higher - although the day felt bullish. There was a bounce off relative performance, which keeps things positive, but it has lost a lot of ground since.
The Semiconductor Index is building a 'bullish flag' just shy of the 'death cross' between the 50-day and 200-day MA.
Tuesday will be about defending breakout support and pushing through overhead 200-day moving average resistance.
You've now read my opinion, next read Douglas' blog.
---
Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.
Follow Me on Twitter
Investments are held in a pension fund on a buy-and-hold strategy.