This is a very volatile technology subsector and is often difficult to hold. My favourite ETFs in this space are SMH and XSD.
Showing posts with label fibonacci. Show all posts
Showing posts with label fibonacci. Show all posts
Monday, September 23, 2019
Breakout in semiconductors just beginning
Arguably semiconductors are one of the most cyclical subsectors. If we are indeed observing a new shift in to cyclical offensive sectors, semiconductors should lead the way. And they seem to be doing just that after going nowhere for 19 years. It looks like we're in the early stages of leaving this 2 decade base and moving toward the 1.618 Fibonacci extension where I expect some consolidation will occur.
This is a very volatile technology subsector and is often difficult to hold. My favourite ETFs in this space are SMH and XSD.
This is a very volatile technology subsector and is often difficult to hold. My favourite ETFs in this space are SMH and XSD.
Nasdaq 10000 by the end of 2020? 2.618 Fibonacci extension target is ~13000
It has been a while folks. Anyway here goes:
I think the Nasdaq is going to leave the 1.618 extension of its 2000 high behind and head to the next extension level (2.618). Rounding the 2000 high to 5000 and the 1.618 extension to ~8100 (which we have been trading around since Feb 2018) the 2.618 extension would bring us to approximately 13000.
It took the Nasdaq 18 years to reach the 1.618 extension level.
The 2000 - 2015 Nasdaq base is gigantic. It's possible that the breakout has just begun.
I think the Nasdaq is going to leave the 1.618 extension of its 2000 high behind and head to the next extension level (2.618). Rounding the 2000 high to 5000 and the 1.618 extension to ~8100 (which we have been trading around since Feb 2018) the 2.618 extension would bring us to approximately 13000.
It took the Nasdaq 18 years to reach the 1.618 extension level.
The 2000 - 2015 Nasdaq base is gigantic. It's possible that the breakout has just begun.
Thursday, July 25, 2013
Major European Indices Near End Of Secular Bear Market
As the three above charts show, returns on the big 3 European ETFs have been essentially zero for the past 15 years. This is typical of a secular bear market, zero return with extreme volatility throughout. I think the picture going forward will be quite different.
Germany (EWG) is pushing up on resistance established at the 2000 peak, the breakdown period in 2007-08 which lead to the global financial crisis and the 2011 peak established prior to the European Debt Crisis. We could see some more sideways movement before finally moving higher but I think the lows are in.
France (EWQ) is sitting on major support established in 1998-99, 2006 and more recently in 2011. The United Kingdom (EWU) has a similar chart. Both are sitting on key Fibonacci retracement lines.
https://en.wikipedia.org/wiki/Fibonacci_retracement
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