I still expect backing and filling in the 1420/1500 area before we launch the year end rally that should tak out 1520 and reach 1619 before the middle of January.
zeev, so you think the action in the semis today won't continue and that they haven't seen their highs for the near future?
Hi Zeev, RE: 1420/1500 Back & Fill - Kudlow & Cramer said a good investor should be interesting in "the thinking" and not the recommendations - I still see some downside in the near term and was wondering if your definition of a "back & fill" process could take the Naz down to below 1420 to 1396 (62% retrace from Nov 11 low to Dec 2 high) to 1378 (71%), etc.
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