ST trading:
NVLS has lost it's strength, relative to AMAT, and returned to the LT pattern of lockstep movement.
It's still a bear market.
Nice bounce at support at 40, today, for AMAT
It's still a bear market.
On a log chart of the Nas, the current death of this, the third bear rally of this bear market, hasn't been quite as perpendicular as the previous two deaths. Of course, we haven't yet taken out the April lows, so the UnRally still has a chance to go perpendicular. If we find a floor without taking out those lows, I'll get really bullish (in a relative way); I'll bet everyone else does, too. That'll set us up for the 4th 50% rally in the SOX. And I'll even entertain the possibility that it isn't just another bear rally.
It's still a bear market.
The SOX (which AMAT is an excellent proxy for) is sitting right at an important support line, that has held since last December (except for that brief April plunge): siliconinvestor.com We either hold right here, or go on to those April lows.
It's still a bear market.
Something wrong with my calendar. It says September, but it sure feels like October. Actually, the only months we've had this year, have been January, April....and a lot of Octobers.
It's still a bear market (this is a recording). |
