Category Archives: Daily Charts

Semi’s Take Out Support

On Wednesday I suggested the Market Vectors Semiconductor (SMH) index was in danger of breaking this months lows. Today it gapped open, below both uptrend and horizontal support lines, and it looks like it is heading for a test of the 50 day moving average.

Too Soon to Look Back?

The Irrelevant Investor takes a look back at the divergence in the Russell 2000 index earlier in the year, and the resiliency of the broader market. Unfortunately, the Russell has diverged again, retracing about half of its March/May decline. Hopefully, it doesn’t revisit those previous lows and the rest of the indices do not have… Read More »

QUALCOMM Earnings Takedown

Shares of QUALCOMM (QCOM) are down about 4.5% in the post-session after the company reported earnings. Earlier this week, the stock price broke above the top end of a channel consolidation it had been trading in since the beginning of May, but reaction to the earnings announcement has taken it back down to the support… Read More »

Semiconductor Weakness

The semiconductor sector performed poorly today with the Market Vectors Semiconductor (SMH) fund down over 2% in the session. It has been moving in sideways consolidation since the beginning of the month, during which time the RSI moved out of an overbought condition and the MacD made a bearish crossover. Volume was 95% greater than… Read More »

Whirlpool’s Massive Engulfing Candle

The range in Whirlpool (WHR) today was stunning. The stock was down over 5% at one point in the session, then rebounded sharply closing up 1.3% on the day, and forming a bullish engulfing candle that encompassed every trading day going back to the beginning of June.