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Technology Stocks : Semi Equipment Analysis

SOXX 288.52

-0.3%

Nov 14 4:00 PM EST

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bull_dozer

To: Kirk © who wrote (71505)	2/9/2016 12:11:13 AM
From: Return to Sender	1 Recommendation Read Replies (2) of 95420

Kirk, you said there: >$SPX $SPY 4-charts below showing: Not a fun day as the market is back to 2014 levels. About the only positives are #1 The S&P500 made a lower close on lower volume which is a hint the sellers are getting tired.< But it was not lower volume. This chart with colored volume shows how far off your commentary is this time: Perhaps you meant for the SPY? The S&P 500 and the SPY are not one and the same. I make a lot of mistakes Kirk. I try to own them. You can be a great source of excellent information but you too are human. This overly busy chart shows that sellers are not tired just yet. But as good as the SPX may be as a proxy for the market it's only one index: I think we are headed for RSI's of 30 or lower on the long term charts of the majr averages. We could have a short term rally anytime but it won't last until... Well you should know by now... But I will say it again: Sellers must totally exhuast themselves. Then buyers will take over with a 9-1 upside day, or perhaps 2 separate 80% upside days in close succession for the entire market. When that rally happens it will be on higher volume than the previous down day, then a higher volume up week leading to a higher volume upside month than the final downside month. JMHO which will be proven by the market in due time... RtS

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