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Technology Stocks : Semi Equipment Analysis
SOXX 299.67+1.5%4:00 PM EST
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To: robert b furman who wrote (71518)2/9/2016 5:19:47 PM
From: Return to Sender1 Recommendation

Recommended By
Donald Wennerstrom

   of 95405
 
Bob, there are no absolutes in charts of any kind. What you need to look for is divergences with indicators like the BP Indexes just like you would with any kind of chart setting.

When a market tops it usually does with a lower high in the BP Indexes even though the market itself is setting new highs. The reverse is true at bottoms.

Higher lows for the BP Indexes even as the market sets new lows. If I had to pick one index I would follow the BPNDX for the Nasdaq 100 rather than the BPCOMPQ because that broad index does not show the divergences as well.



That said, no single index, or measure of market breadth, at any absolute level, can be trusted to be the holy grail of market reading success for future trading. Currently we have many things in place on the chart above that would lead me to believe a real long lasting market bottom is just around the corner.

Is that really going to happen?

<VBG>I wouldn't mind at least a decent rally.

RtS
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