Chip stocks fell sharply today, what do you think of the semiconductor sector? 20240417

chapter:

Start at 0:00
1:30 SPY
5:12 QQQ
7:38 IWM
9:01 VIX
9:34 TSLA Tesla
12:55 SMH Semiconductor NVIDIA ASML ASML ARM
21:32 BitCoin Bitcoin
24:04 TLT US 20-year Treasury Bond
24:47 Summary

SPY: There is a gap below (500~495), which may need to be filled, and then rebound back up. In addition, the 50-day moving average has officially fallen below because it has not stood back for three days.

QQQ: The gap was filled today, and technically it looks like a rebound.

IWM: Look at the shock.

VIX: Although it has fallen back, the 18 point is still very high. Market risk aversion is high.

Tesla: It fell below the box, and it gapped down. It is a very short form. Continue to watch the shock and wait for the financial report.

SMH, NVDA ASML ARM: The 50-day moving average fell below on the first day. The 50-day moving average still has support within 11 trading days. Technically, the rebound is weak. Like Nvidia, there is a gap below (839~823), which may be filled and it will rebound later.

Bitcoin: The daily chart is at the neckline. If it falls below, it will look down to about 53,000. The weekly chart may replicate the previous trend, with a drop to 53k in May. In late May, it rose again.

Treasury Bond TLT: Back up, looking to rebound to the downward trend line.

Summarize:

Tomorrow, Thursday, there will be no economic news and the stock market will be volatile. Friday is the monthly option delivery day, and there is no direction. During earnings season, it’s better to focus on individual stocks.

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