A Small Dent
S&Ps made a new low for the day at 1220.30. Clearly, a “dent” has been made in the bullish sentiment in this market.
Earlier, a local short-covering move took this market back to 1223, but there was little buying interest generated to take us higher. In order for the upside to gain any strength, we must make it above the 1227.50 to 1231.50 level.
NASDAQ trading at 1724, holding above a support zone at 1715-1705. On the upside, the target is 1735. Looking at the Semiconductor Index
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