Super Micro Short
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FEEDLike all tech stocks, SMCI went soaring last week, but it my well turn
out all that it accomplished was to provide another great entry point for
the be...
2022-01-24
The Mighty are Falling
A quick scan tells me BigTech's turn has arrived. The mighty are taking the indexes out, hence Russell 2000 outperformance on the downside. Good new: that could mean the final leg of the correction has arrived. Bad news: if this is going straight down, the support for the Russell 2000 is around 1700, about 15 percent lower.
I've found symmetry has been working decently in recent months. Here's why a bounce is still possible. The Russell 2000 had a small consolidation before moving up into the large trading range last year. The Russell 2000 is now at this zone. It is not a strong support area, it won't hold in a panic. But if selling pressure alleviates, this is right where it should bounce.
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