Now we enter what could be one of the most exciting trading weeks of the year. It is beginning quietly, with the /ES very modestly adding to its big red number on Friday.

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Now we enter what could be one of the most exciting trading weeks of the year. It is beginning quietly, with the /ES very modestly adding to its big red number on Friday.

Let’s get serious about the semiconductor index. This beast has a perfectly good chance of completing a relatively small but spectacularly well-formed head & shoulders top. Indeed, it would take only one good down day, no more dazzling than Friday’s, to get the job done. I would like to offer unto you my target for such a measured move, tinted in green:
