What TheChartGuys said in this video:
- SPYbullishshort-termS&P futures lost the weekly 12 EMA without follow-through, and the falling wedge has broken bullish, but a daily uptrend is needed to put all-time highs back in play.Source
- SMHbullishshort-termSemiconductors bounced strongly off two-week support, but a daily uptrend is still needed to confirm a more confident bottom.Source
- Otherpositive for stocksshort-termMemory shows relative strength versus semis, retracing past 50% of the pullback, but it too needs a daily uptrend to confirm the bottom.Source
- XLFbearishmid-termXLF shows bearish ratio divergence and a lower high is the most likely scenario, though the fund itself holding sideways while semis rally favors broader bulls.Source
- XLVneutralshort-termHealth care is going sideways at the highs and remains healthy on its own, guided by the daily 12 EMA.Source
- XLPbearishshort-termStaples keep drifting lower with a clean inverse relationship to semis; bears can look for a daily lower high.Source
- GOOGLbearishshort-termGoogle is getting smoked on earnings with big follow-through out of its diamond pattern; lower highs are likely on all time frames, with the quarterly 12 EMA near 250 below.Source
- MSFTbullishshort-termMicrosoft posted bullish earnings with new all-time highs and continues riding its two-day 12 EMA upward.Source