NVDA in a whole lot of trouble right here. Bad for all SMH stocks. Watch SMH draw QQQ down for a while.
EARNINGS The earnings on tap aren't looking very enticing to me, as I generally look at getting in on these where the implied volatility rank is >70% and the background implied volatility is >50%. However, they might be worth watching running into earnings to see if implied ramps up. KMI (implied volatility rank 79/implied volatility 30) announces earnings on...
Minor supply zone from 2000 there too
completion at 10.12 although due to the overwhelming selling pressure I will play this one with careful. Preferable buy near 200MA (9.75) but I'm happy buyer near 10...will see it opens tomorrow.
I know it is crazy and hard, but I will still try. 76.69-78.58 is a stacked resistant zone for a iv wave correction. We may or may not finished iii wave. Look for a 5 dollar correction soon.
SHORT SMH LONG TLF Target 0,50 - Super retracement expected Unload Risky assets tactically (1-3 months) 14-15% Potential Gain Set your own Stop Loss.
Semiconductors have defied the gravity for sure! They act similar to IBB just before it rolled over. For now, it is consolidating above a major trendline. Probably another move up!
SPY, IWM and SMH have met their upside targets. If we close Below the $214.56 with minimum 100 million in Volume, we will see a major correction, till then stay put!
SMH extended the decline off the 60.13 peak (June 1, 2015) to breach 32-month rising trendline (from November 2012 low), suggesting scope remains for further downside. The immediate support lies at 50.40 (61.8% of 44.43/60.13 upleg) then 48.11 (76.4% of 44.43/60.13 upleg). Below there would expose the 44.43 key support (October 15, 2014 reaction low). The...
SMH expected to gap to 53.70 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
3-29 Here's the drill. Nice clearly defined uptrend channel that? Put in a Double Top and broke its uptrend to the downside. Now for shorting? Let it stage a snapback rally up to new resistance at either the red line around $52.00 or a Fib retracement zone (notice where the 61.8% zone is? Its at those levels one wants to see? Stalling, THEN one can think about...