Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Buzz & Banter

By

PrintPRINT

Just wanted to pop in with a chart of interest. Through yesterday's close the Philadelphia Semiconductor Index (SOX) is up over 6% since August 8. Below is the five-point chart.

A move to 400 confirms a triple top breakout, bullish short-term, but the SOX would still be trading below the June highs. More important, in my opinion, is the fact the SOX has already broken the trend line that can be drawn from the lows this past Spring. As well, the Bullish Percent indicator for the Semiconductor sector is in a column of O's on defense; this is not a strict timing indicator mind you, simply a measure of risk in the sector suggesting risk is currently very high in this group.

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE