At least that has been my experience over the last few weeks.
SIMO tested the SMA 50, which was noted as a buying opp. in NFTRH+ (with a ‘stop’ below it). Now it’s channel busting up. Yay me! But INTC dropped on the same day (now recovering to re-take the ‘Handle’). I hold both of these Semis.
Before that, EW launched on earnings but BABY tanked on the same day. I let EW run before finally taking the profit on it yesterday (it still looks bullish) after quickly limiting the loss on BABY.
Now add in DVA, which had been beautifully creeping up and even starting to separate from its rising SMA 50, only to drop on earnings. I took a marginal loss.
On the big market view, we appear to be in ending dynamics. But “ending” does not mean ended. We have long been open to this thing terminating in a blow off as opposed to the long, rounding top (that wasn’t) in 2015. We’ll see; it’s not only the 1.5 steps forward, 1 step back market; it’s also the be flexible and ready to adjust on the fly market, with sector rotation playing a big role.
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