ETF SWING & DAY TRADING

[Torqputty]

Market View (comment)

i will dispense with the charts, everyone following the cs-group should know where we are and where we are headed. The only thing stopping an all-out slide is the RSI-5 play, which is a formidable ally for the bulls. Every line I have is broken or getting ready to break. Yes, anything can happen to turn this around and get a rally going. But thats highly doubtful, so i will also dispense with any upside calls until the bulls return from their early spring vacation.

I will try to match the downside target of the SMH pattern with S&P support. I will use the weekly S&P chart instead of the daily to get a better gauge. I feel comfortable & confident about the downside view.

SMH has 2 ways to go, straight down or bouncing ball down. Look in your symmetrical chart pattern guides for what a H/S pattern looks like. Use the "real" example not the drawing and you will know where smh is going.