We are in that tough spot - semi news sounds good
but, we should be near a top and may have seen it.
Small gains today pre mkt do not take out Tue losses.
If open/rally fails, you can expect no DHHs and some DLLs, thus I will be buying more puts.
How will XLNX react to its gross margin increase?
ALTR already down on just going to high end of range.
Remember, we have had a good move and some consolidation is needed.
10d SMA's are rising as decline days are droping off, thus stocks above will naturally drop with flat prices.
If 50d SMA's on SMH and SOX are to hold, we must therefore have a sideways consolidation - this is the best scenario for a continued run.