It’s heartening to see a solid red screen for a change, as it appears to be dawning on folks that the cavalry isn’t coming. Semiconductors, a crucial element for this broken bull market, are beginning to show signs of weakness. Nvidia has executed a quintet of Lower Highs, with a hard stop being the price gap I’ve highlighted.
For my own portfolio, I acquired AMD puts first thing this morning, since the broken ascending trendline is a key failure point. I am continuing to keep my put positions anchored to October 18, November 15, December 20, and January 17 expiration dates to give them plenty of time to play out.
