Replies to post #9301 on ajtj99's Market Pulse

[SI_Shack]

I am indeed on alert with the semis MW. Something has been amiss there since the Sept 11 low, it has looked like hell off that low. However I am not sure that means the entire market will crap. I would note that the SOX bottomed a month ahead of everything else back in Feb and I would not be surprised if it has topped first.

But for now there is no technical damage inflicted so I can't be too bearish.

[otraque]

<I noticed that SI_Shack was getting somewhat skeptical of the bull case, based on the SMH. The daily BB are getting pretty tight and we closed below the 20 EMA today.> a critical index, let's see it break 35.

[ajtj99]

That SMH chart looks ready for a tag of the lower BB and another leg up, possibly to 478 on the SOX (a target I have).

A tag of that lower BB would equate to a drop to 1347 NDX based upon the moves the SOX makes in relationship to the NDX.