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Strategies & Market Trends : Humble1 and Swing Trading Friends

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To: robert b furman who wrote (3998)	9/29/2010 10:52:54 AM
From: Fintas	Read Replies (1) of 41471

Yes and NO. Ok the yes..the basic momentum indicator, 10/30 week are HIGH or 70/80 and need to roll over to empty the glass some. But the NO. The sector is at 45 and a long ways from the 70/80 it usually reaches before it is peaked out. Although it did just recently turn up a smidge fro a 40ish. More NO. the Rs x's Rs patterns and positive patterns have NOT turned. That means they will. Some more yes. the weekly distribution is stair stepping nicely but needs to rest a bit. So MY read is this. Semi's are BACK and should be BOUGHT on dips. As that happens we should see the underlying more powerful indicators TURN UP to support the sustained upside for not a week but for a long period and thus taking the sox up to higher levels. Yet here and now as the mo mos indicate some selling could happen to shake some out. I wouldn't be surprised to see the bp semi roll down into the lower 30's to give some room in the mo mo's. Yet long term the weekly screams buy the dips. The weekly is one pretty picture. Have a great day.

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