Friday, September 13, 2019 6:20:06 PM
What I'm talkin' about:
$SPX and SMH both have a very similar cup pattern since late July, though the SMH pattern is far more pronounced. A handle on the right side could be very short. Do they break higher or lower?
If you don't want to call the cup patterns, then call them double-tops.
AMD fell out of favor and I had to add a lower (4th) tine to the yellow fork several weeks ago. There also is no cup pattern (AKA double top). After the market closed today I added the blue down fork to AMD -- it earned it. Could the downtrend of AMD be emblematic of bats flying out of the cave before it crumbles?
Maybe AMD is the canary in the coal mine for the rest of the market?
On a weekly interval, $SPX is making a double-top. On a monthly interval, $SPX closed at an all-time high today.
Recent AMD News
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