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Thursday, September 21, 2006 

Philadelphia Semicondutor Index

Chart courtesy of stockcharts

The Semicondutor Index today had a significant fall, and in the daily chart we can see that thi movement has stopped near the bottom of the trend, however one sell signal was given us by the MACD with the fast line crossed below MACD slow line. If tomorrow we break the green line to the downside further declines to 400 level should be expected from here into October. Let's see if this cenario will be confirmed. I still cautions in the long side here.

Macro economic news : Manufacturing sector slowed in September
The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, dropped from 18.5 in August to -0.4 this month.

Keep in mind : Trading stocks involves risk, this information should not be viewed as trading recommendations.

That's All. Have a great evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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