Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 328.78

+2.9%

Jan 9 4:00 PM EST

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To: Return to Sender who wrote (71397)	2/8/2023 2:41:39 PM
From: Return to Sender	of 95703

Good Afternoon, As shown below, a lot of green bars are showing up on the price chart for SPY (the S&P 500-tracking ETF) lately: A green bar on a daily candlestick price chart means that price closed higher than where it opened that day. It's indicative of intraday strength. For SPY -- a proxy for the US stock market -- we have seen intraday buying (gains from the open to the close) on 12 of the last 13 trading days leading up to today. Below is a logarithmic price chart of SPY since it began trading in 1993 with red dots shown where it has historically *been up on an intraday basis on at least 12 of the prior 13 trading days. It hasn't happened a lot. In total, there have only been 7 prior periods where SPY has been up intraday on at least 12 of the prior 13 trading days, with the most recent stretch making it 8. Only once have we seen 13 consecutive trading days of intraday gains, and that happened back in April 2021. When looking at the chart, it stands out to us where these long stretches of "green bars" DIDN'T occur -- during bear markets! As always, past performance is not a guarantee of future results.* Elevate your investment game! Upgrade to Bespoke's paid service and gain access to even more comprehensive analysis, expert insights, and valuable information. Our paid service is for investors who want to stay ahead of the game and make well-informed decisions. You'll get more in-depth market analysis, the latest news, and a broader perspective on the world of finance. Bespoke's goal is to help you take your investment skills to the next level. Get started now with a one-month trial.

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