‘Prove It To Me’ Mode
In the early
session, the Qs are under heavy pressure from the Semis
due largely to a drop in CapEx guidance from Taiwan
Semi. As a result, the Nasdaq is lagging the broader market faster than the Sox
(Red, that is) are beginning to lag the Yankees.
The SOX (Semis, that is) is approaching new lows as the column goes to press,
bringing the Qs down with it. As a result, the Qs have reverted back to a
prove-it-to-me mode on both the 13-minute and hourly timeframes after a glorious
day full of reversal triggers yesterday. I’ll let the charts speak volumes yet
again.
Thursday 25, 2002 12:00
P.M. ET

Good Trading!
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