Options777
06-28

Stretching out the chart for $S&P 500(.SPX)$  $VanEck Semiconductor ETF(SMH)$  $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ , the current dip is a minor pull-back and shaking out those who are panicking after the 3 months of all time highs.


The sell-in-may event this year got postponed till mid June because of the Iran war and the world cup. Big boys traders are taking a delayed summer break now thus the money flow is mainly algorithmic by the market makers.  I expect to see more catalysts coming in late July onwards and hopefully we will resume a bullish trend towards mid terms.


@Tiger_Earnings  @MillionaireTiger  @Daily_Discussion  @TigerStars  @TigerWire  

Modified in.06-28
CPI and PPI Both Cool — How Much Further Can U.S. Stocks Run?
S&P 500 +0.65% to a record 7,798.99, through 7,800 intraday; Nasdaq +0.81%, QQQ +1.16%, Dow +0.13%. Soft inflation did it: July CPI 3.4% YoY and 0.1% MoM, PPI at 4.2% against 4.9% expected and 5.5% prior, pushing the odds of an extended Fed pause higher. Burry disclosed a bigger QQQ put position, positioning for "a larger leg down," while desks warned against chasing into the next earnings cycle. Add to tech, rotate into gold and defensives, or wait for earnings?
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Comments

  • pizzi
    06-29
    pizzi
    SMH still looks like a reset, not damage. If flows turn back late July, semis can rip again no?
    • Options777: 
      not sure what does damage means here but SMH is still moving above 30 and 50 day Moving average. the momentum is still going very strong, semis just announced price increase from July onwards, so funds should rotate into Semis, hyperscalers and cloud providers will continue to suffer
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