Market Reversal & Semis

$SMH

The afternoon activity is getting all of the attention. As far as the broad indices and sector themes, I’m going to reserve commentary until we get weekly candles. I do want to post the $SMH chart, as I think Semi’s, which have been sector leaders for some time, are ripe for at least a test of the 50 day. And that’s fine. 4%ish downside would get there, at which point I’ll be watching for the bounce, or perhaps we enter a period where it trades between the 50 and 200 day moving averages.