SMH

Here is the position of the weekly DMI on SMH right now

 

We traded above the May 2022 high on the Semiconductor index yesterday. If we can clear that and get a floor there, then the next high would be the March 2022 high and there is nothing but air between here and there---8 to 900 points. --Staying long.

 

FWIW, I'd say you're right.

 

Proof? Let’s see that the position exists other than in your mind.

 

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SMH is an 88% buy FRI on barchart, but i do my own research;
good up YTD...................................................

 

I've never looked at barchart. Does it carry a positive reputation?

 

Sure does look like breakout of IHS on weekly chart--

 

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DONT know/ but i like its objective buy + sell technical indicators; even though i like to look @ that after i have done my research.
Like they note SMH is a88% buy + buy off 200dma

 

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Good uptrend\ good YTD/but i'm doing scale out a bit on SOXL= worst % down today of my ETFs;
and also they're buying SMH around 50dma , but i dont want that kind of drawdown.
Good weighting of NVDA in SMH+ soxl.....................................

 

One of the few ETFS that are up today is SMH. Staying long.