Semiconductor Index Sees Technical Improvement
Im not going to say a whole lot because there hasn't been a big enough change in indices from the weekend to warrant another post. The Semiconductor Index is working a bullish bounce in technicals, despite doing little with price. There was a return in bullish technicals with CCI, +DI/-DI, Stochastics and Relative Strength all showing 'buy' triggers. Only the MACD remains on a 'sell' trigger, and when it switches, technicals will become net bullish.
The Semiconductor Index is playing out a sideways pattern in price. Today's doji will have barely registered on anyone's radar, but with the return above moving averages it only leaves peak highs to break.
Bitcoin managed to break through its moving averages in a modest 1% gain on low volume, with only all-time highs to challenge. This looks like an early phase rally with a buy-in opportunity still available here.
I didn't mention the Dow Jones Industrial Average ($DJIA) over the weekend, but it is offering a decent risk:reward on the long side with risk defined on a loss of 45K. Technicals are net bullish, further confirmation for a long trade.
For the rest of the week, continue to play on the long side where the risk:reward remains favorable (as there is no overhead resistance).
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Investments are held in a pension fund on a buy-and-hold strategy.