one minor hickup for broader markets
semiconductors have been a lead bear in this downturn since december, and a lead bull on the monthly bounce from the lows since july. if we roll over here setting a lower high on this etf around the first upper horizontal i would look for broader markets to consolidate on the daily. if we treat pivot as support i would target the upper horizontal and look for continuation in broader markets. most likely scenario is a gap down followed by a rally to close with price action after to be determined.
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