SPDR S&P Semiconductor ETFUpdated ridethepig | Semiconductors Sweep The Highs ?
Although no longer necessary a sweep of the highs to 100 would make XSD much easier to trade as we enter into the next economic cycle down. Those following in the Telegram will know I have been tracking the highs in Consumer staples from a Waves perspective here:
As the final target has been reached which coincides with a Technical double top (at least so far in Semi's) it means that the test of a psychological 100 level is no longer required. It would however make things far easier to trade for 2020. To put simply, I am in no rush to position here but remain wary of the possibility highs are cemented and a breakdown occurs.
From a strictly NQ perspective in the long-term the Wave Count I have been tracking:
On the Industry specifics:
If you tracking Semi's relative to software there is also a breakout in the making; this will imply a new relative high can be made and hence I remain sidelined waiting to sell the highs with ECB/FED combo to come.
All the best.
As the final target has been reached which coincides with a Technical double top (at least so far in Semi's) it means that the test of a psychological 100 level is no longer required. It would however make things far easier to trade for 2020. To put simply, I am in no rush to position here but remain wary of the possibility highs are cemented and a breakdown occurs.
From a strictly NQ perspective in the long-term the Wave Count I have been tracking:
On the Industry specifics:
If you tracking Semi's relative to software there is also a breakout in the making; this will imply a new relative high can be made and hence I remain sidelined waiting to sell the highs with ECB/FED combo to come.
All the best.
Note
Note
Note
Wary of the major breakup Trade active
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.