Article By:
Douglas Gammons
Sunday, March 17, 2024 1:20 PM EDT
The strong uptrend that started in late October has been displaying a bit of selling pressure lately. The NDX closed under the 20-day EMA on Friday, and it could be rolling over. In fact, the NDX hasn't had a closing high in a couple weeks.
The Short-Term Uptrend Is Ready To Rally
I guess we headed to 600 on the $SOXX, I wouldn’t doubt it. The investing world has decided that next year is next year so whatever happens now is table stakes. Bearish
Sunday Trio Of Short Ideas
100% agreement on $BWLD especially since it has been flat for months in a bullish market with more room to fall.
I disagree with $AMD. If AMD falls below the SMA200, absolutely short, but the Triple Bottom off 12.00 is a cause of concern + a previous ER beat + Q3 ER beat likely & sitting in oversold territory according to (MFI). $SOXX shows a Pennant as well.
$ACAD long-term is down, but short term is up. Above the SMA 20, 50 & 200.
Both AMD & ACAD is big risk little reward in my book unless the Days to Cover is a big enough window. Otherwise just not worth it in my book.