When The Chips Are Down..The Market Follows
The Philadelphia Semiconductor Index (SOX) is down over 3 % today
on fears of a new and more powerful retribution backlash from China
in the escalating 2019 trade war with the United States.
I have been following the stock market for decades now,
and if there is one relationship that you can count on, thru thick and thin
for trend analysis it's, the bullish/bearish posture of the semiconductor stocks.
I have included here the 4 Hour Chart of the Semi-Conductor Index,
along with 4 Hour Reletive Strength. It's not a pretty picture.
There will be some who will buy this dip, sensing opportunity,
however big money has already made it's decision to unload on the semi's at these levels
not wanting to wait, for additional bearish evidence, to confirm what they already seem to know.
SOX 1359.32 Last
THE_UNWIND
5/20/19
NEW YORK
on fears of a new and more powerful retribution backlash from China
in the escalating 2019 trade war with the United States.
I have been following the stock market for decades now,
and if there is one relationship that you can count on, thru thick and thin
for trend analysis it's, the bullish/bearish posture of the semiconductor stocks.
I have included here the 4 Hour Chart of the Semi-Conductor Index,
along with 4 Hour Reletive Strength. It's not a pretty picture.
There will be some who will buy this dip, sensing opportunity,
however big money has already made it's decision to unload on the semi's at these levels
not wanting to wait, for additional bearish evidence, to confirm what they already seem to know.
SOX 1359.32 Last
THE_UNWIND
5/20/19
NEW YORK
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