More Charts To Ponder

I neglected to include XBI in the h-pattern post. That one is a also a major and imminent pattern whose resolution will have important implications for the broader market.

Chips

I took profit on MU puts yesterday picked up a similar exposure with AMD for less capital.

Micron Still Sliding

teh semiconductor has about 1 percent to go before filling a gap. Still downside room for MU even if this is a short-term move. A drop below the gap, similar to what MU did this morning, would open up a bigger reversal.

The Cow Did Not Jump Over the All-Time High

More Moo

Added more June puts. New all-time high will be exit.

Another one to consider. It's weird right? Chip shortage anbd semis on the cusp of reversals. Either the correction is over or someething is rotten below the surface somewhere, because in a raging bull market on the cusp of high inflation and a chip shortage, these stocks should be leading.

The Cow Goes Moo

Bought puts today. Looks like a possible double-top to me. The all-time high was $97.50 back in 2000, that is 5 percent downside risk from here. Also bought some puts on IWM. Blue line is major support. Financials and energy are bigger in the Russell 2000. Also small gap in play, as long as it stays below $223.69, I will be holding. I bought monthlies, May puts for MU and April for IWM.