Semiconductor Bounce, On Cue

Well, if you could not tell by the VIX ‘Micro Blips’ theme noted in the previous post, the market is predictable enough. On Thursday we noted that Semi was due to bounce from support, both in leadership and nominally. Friday and today it boinked.

Here are its leadership to the leader (tech), to SPY and nominal SOX, which is retaking the SMA 50. It wouldn’t go bullish again, would it? Well yeah, it would. Now let’s see if it does. Still plenty of room here for the Semis to give us a negative signal for 2018.

You can just feel the machines and algos scanning for what’s next, rolling from play to play. Then after them come the wise guy momos and finally Ma & Pa.

This thing is so bullish. I am serious, not joking. I am glad I am on the right side of it. But while I cannot out think a machine, I can take profits here and re-seed ’em there, based on the market’s gyrations.

By the way, I need to announce something; I was the guy going on about a would-be Q4 market top using a 30 month cycle. Well, there’s less than 2 trading weeks left for that to work out. I don’t think I’ll bet on it. I just want to try to own my bad and/or goofy stuff, not sweep it under the rug.

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