It’s been four weeks since the high on March 1st, is that it for the correction? I have my doubts. Another way to look at it…the DJIA has corrected 18.4% of Minor Wave 3. Minor Wave 3 ended at the high on March 1.
In today’s brief market video I look at all this as well as one of my indicators, 3 key ETFs…SMH, XHB and XLF and one stock from each of those sectors. The stocks are Qualcomm (QCOM), Toll Bothers (TOL) and Morgan Stanley (MS).
The semiconductors had the biggest move of all the sectors this last week, up 5.6%. But can this move last? Where are they going from here? And do all the semiconductor stocks look similar?
In the video below I review this week’s market action by reviewing the S&P 500 ETF (SPY) and the Russell 2000 ETF (IWM). I look at the Semiconductor ETF (SMH) which was the biggest sector mover this week and then look at 6 semiconductor stocks:
The video attached below is a very condensed version of what I provide to my Insider Members in their Weekend Market Analysis.
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