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My plan is to stay out of the market today. There was some violent sell off on Friday in the semiconductors. All the stocks and ETFs I follow sold off and there were a lot of shooting starts or bearish engulfing candles.

Several of the indices are looking tired too, the S&P500 has a bearish engulfing candle as well.

S&P500 Price ChartS&P500 Price Chart

But MSFT is hanging in there, that’s one that I want to bet on for the long term and I might be increasing my long term holdings of it.

Microsoft Price ChartMicrosoft Price Chart

Semiconductors

These charts are flashing a turning point. We’ve come so far and so fast that we’re overdue for a pull back. I’m going to be watching the market today and will sit on my hands.

SMH Price ChartSMH Price Chart

NVDA Price ChartNVDA Price Chart

AMD Price ChartAMD Price Chart

Tags
Trading Investing Stocks AMD NVDA MSFT SMH ETF posts
Date
March 11, 2024
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Trade Journal My plan is to stay out of the market today. There was some violent sell off on Friday in the semiconductors. All the stocks and ETFs I follow sold