Sep 12 - A closer watch on the semiconductor index.

Discussion in 'Trading' started by roclerman, Sep 12, 2005.

  1. Sep 12 - A closer watch on the semiconductor index.

    Today's close and the structure of some stocks (like BRCM, KLAC, AMD, MOT, NSM) makes me take a look for a moment on this popular index. After a quick view i think we are in a V wave from after a huge movement 419-486 "labeled" a III wave (of course subjectively speaking).

    Anyway the point is that we have to pay attention to this index because indicators are warming up, trends are holding higher and high is set for a test. A close of that high leaves the way open for a 5 to 12 points run, let's take a look at the chart..........



    Diego M Rolando, Sep-12-2005, roc@roclerman.com

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