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Technology Stocks : Semi Equipment Analysis
SOXX 337.22+1.6%Jan 15 4:00 PM EST
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To: Return to Sender who wrote (55526)2/20/2012 10:31:32 AM
From: Donald Wennerstrom1 Recommendation  Read Replies (2) of 95730
 
RtS, Your chart shows a wealth of information. RSI has been climbing towards the 70 mark, but not quite there yet. Maybe it will, and maybe it won't make it that far before we get a pullback. We have a lot of forces working on the market, both positive and negative, and on top of that this is an election year. Hard to see how any prediction of market movement could be very firm.

Now that earnings reporting season for the 4th quarter CY/FY is well finished, I am going to make a final update this coming weekend and make a post with the results. The preliminary data is very much in consonance with the market action of the last couple of years, ie, the pullback in the SOX from the 471.86 number of 2/18/11 to the 432.04 number of 2/17/12. Preliminary analyst consensus projections for 2012 and 2013 don't look so hot either.

I certainly don't see any big "drivers" at the moment which would give a strong upward movement to the market. Lately there has been a recovery of sorts, but it is not very robust. Jobs and housing are going to be in the "tank" for a long time. Now we also have a threat of rising gas prices in the near future. If that happens, all bets are off.

Don
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