This market will never fall as long as semiconductor companies keep printing lifetime highs every day. Thus, it’s important to keep a close eye on such beasts as NVDA, AMD, INTC, and, shown below, SMCI. They reported last night to tremendous effective, with the stock blasting higher than it had ever been before. What’s interesting to me is that the stock peaked at $570 after hours and has been slipping all day long. It might even close below $500 today (possibly……..) if this keeps up.
In general, SMH is worth watching, since it has a clean price gap represented by that dashed line. I have taken on a small bearish SMH position, since I’m a glutton for punishment.
After the close today is AMD, which will have a huge influence on what SMH does tomorrow.
