The past few days have been quite an emotional and price roller coaster. I’ve got one of my “deep thinking” posts tumbling around in my head that some people really like; whether or not I actually write it remains to be seen. So I’ll just do a low-thinking chart post.
One nifty way to look at where the big bounce has put us is the semiconductor index, which has been an important guide to market strength and weakness. It’s perfectly nailing the underside of its trendline, which is serving its role as resistance. This is a likely turning point.