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Technology Stocks : Semi Equipment Analysis

SOXX 295.15

-2.3%

Nov 11 4:00 PM EST

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To: Return to Sender who wrote (92767)	8/2/2024 6:55:32 PM
From: Johnny Canuck	Read Replies (3) of 95397

79 percent declining issues and 18.4 percent advancing. Yesterday was 78 percent declining. I think you are waiting for an 80 percent down day to signal a reversal. I am not sure if your system waits for the 80 percent declining issues threshold to be exceeded or multiple days of close to 80 percent declining issues is enough to signal a reversal. Either way I suspect a tradable bounce next week, but it will be centered on stock with strong forward guidance. NVDA has not reported but there is enough data points from AMD, MSFT, AMZN and META to suggest demand is still strong so it will get the benefit of the doubt till earnings. META and AAPL should bounce more if the market bounces. I doubt the bounce will be a bottom, just a dead cat bounce for now. Without good earnings news I suspect the market is down to to sideways till the potential rate cut news. CPI and PPI is still 2 weeks off. finviz.com After that we are into elections season and a lot of institutional traders should stay away. The real rally may not happen till November/December. Looking further out the question will be will the Fed engineer a soft landing or are will in for at least a mini-recession lasting 6 to 9 months?

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