The Leader (NDX) and the Leader’s Leader (SOX) Cracked, but…

In an NFTRH update this morning we reviewed the charts of the leader (NDX) and its leader (SOX). Here we see the Semi leadership (to NDX) that kicked in a year ago, when we err… got bullish the Semis (amid an investing world full of apathy). The leader (to SPX) had led the market before turning down into the 2015 market top (that wasn’t) and … Continue reading The Leader (NDX) and the Leader’s Leader (SOX) Cracked, but…

Return to the Land of the Sinking Currency?

In not making a higher high before turning down below the daily SMAs 50 and 200 the Japanese Yen has painted itself vulnerable, at best. We have been noting the constructive look of the Nikkei in NFTRH and with this market especially, the currency aspect plays a big role. Japan’s stock market and its currency have, after all, been pretty well negatively correlated for about … Continue reading Return to the Land of the Sinking Currency?

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NFTRH; Semi & Tech Short-term Breakdown Potential

This is not a pleasing short-term picture for Semiconductor and Technology bulls. Since these are leaders, it is not a pleasing picture for the broad market either. After making a bearish engulfing candle yesterday SOX is in danger of breaking what may be a bear flag. NDX is doing likewise. Yesterday’s bearish reversal candles need not have significance of more than a day or two. … Continue reading NFTRH; Semi & Tech Short-term Breakdown Potential