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Technology Stocks : Semi Equipment Analysis

SOXX 305.47

+3.1%

4:00 PM EST

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To: Return to Sender who wrote (91870)	3/6/2024 3:10:36 PM
From: Johnny Canuck	1 Recommendation of 95358

That corresponds with the cyclical information I posted: weak late February till March/April. This has not happended yet though. Potential rally starting at the end of April. Election years are modestly positive but volatile. There is usually a second market pullback around August in the run up to the election and then a rally after the election is over. A 10 to 15 percent pullback would technically not indicate a major correction, which is 20 percent. AAPL and GOOGL in the 10 to 15 percent correction range now, so the MAG7 is now the MAG4 with TSLA also in correction territory. Keep in mind, what is keeping the major indices up is the rally is broadening, just look at the Russell 2000. Till we see traders exit the Russell 2000 most selloffs in the major indices will be bought I suspect. Keep in mind don't anticipate but participate, so wait for confirmation. I personally am just running tight stops as overvalued can become more overvalued.

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