Wednesday, April 06, 2016

Before the Bell with Lot's of 'Sell' (hey, that rhymes): Semiconductors (SMH) and Small Caps (IWM)

Semiconductors (SMH) and Small Caps (IWM) are putting in near-term sell signals on the RSI(5) at the moment, and this while they come to the end of some very long ascending bearish rising wedges. For Semiconductors this will be a fairly significant development as it will have failed to put in a higher high and Small-Caps have been stuck in a large descending channel for a long time. 38.2% retracement on the Small-Caps is $104.35 and $51.55 for the Semiconductors. 

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