When Everyone is Long...Near Lows Close on All Major Indexes
Nasdaq 100 finished the day in the Red and minus 180 points from the high set in the first 5 minutes of trading
The S&P500, Dow and the Philadelphia Semiconductor Index (SOX) finished positive, but near its lows for the day
Longer Term:
If we look at #1 on the chart it shows that SOX is up 45% from the October lows and is over 20% above its 200 EMA.
The market can do any of these 3 at any time- 1)rally may continue or 2)we may consolidate for a while or 3) a pull back
I think Monday Feb 26th will be an important day, because over the weekend big money will decide what it will do and by the end of the day we will all know.
In any case, this is Red alert area, so
be careful and Navigate with Care.
OnlyTrade2Win.
The S&P500, Dow and the Philadelphia Semiconductor Index (SOX) finished positive, but near its lows for the day
Longer Term:
If we look at #1 on the chart it shows that SOX is up 45% from the October lows and is over 20% above its 200 EMA.
The market can do any of these 3 at any time- 1)rally may continue or 2)we may consolidate for a while or 3) a pull back
I think Monday Feb 26th will be an important day, because over the weekend big money will decide what it will do and by the end of the day we will all know.
In any case, this is Red alert area, so
be careful and Navigate with Care.
OnlyTrade2Win.