Failed Bullish Breakout for Semis

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I am glad today is relatively quiet (AKA boring), because I am barely able to stand…………..bleah! No one likes being sick, but I’m the world’s worst patient; I just can’t stomach not being at 100%.


Failed bullish breakouts are a favorite of mine; the one below is for the semiconductor index, and I think it’s important. It’s also one of the reasons I remain comfortable staying short, in spite of today’s bounce.


Along the lines of technology, one thoughtful reader sent me the chart below of an ETF I didn’t even know existed. It looks like we’re getting ready for a three-peat.


Incidentally, I dumped my GDX long from the prior post; I’ve decided to remain “purely” short right now, in spite of what might be a decent (but, let’s face it, risky) bounce opportunity.