$SMH Finds Key Support, but $513 Is the Next Level to Watch

SmartReversals
07-29

$VanEck Semiconductor ETF(SMH)$ : Be careful being too bearish.

My daily market update provides the key levels for tomorrow on $S&P 500(.SPX)$ $Invesco QQQ(QQQ)$ , and $SMH.

Also an update of my high probability setups.

My bullish targets for $Apple(AAPL)$ $Netflix(NFLX)$ $Wal-Mart(WMT)$ $Costco(COST)$ have been reached as my bearish ones for $SMH and $Advanced Micro Devices(AMD)$

The vanishing rally was expected for $QQQ as posted during the weekend, the selloff in semiconductors was much stronger.

The volume shelf provided support, in confluence with 534, my extended bearish target posted during the weekend in my publication 🎯. $513 on watch.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment
4