SOX weakness continues.....

After a long long time that I am seeing protracted weakness in SOX.... 

RUT is also lagging...

SOX & RUT used to be leading indicator, not anymore.....

Here is a quick look @ RSI for strength and weakness :

SOX               51.79

RUT               55.93

Nasdaq           57.36

S&P 500         64.14

Dow                65.85

It is extremely interesting that SOX, RUT and Nasdaq are weaker among 5 index / sectors....very unusual.

It is getting very hard to make any sense of SOX, RUT for direction of this market.

DOW is the strongest followed by S&P 500

Quite often markets do very unusual things and do not follow common wisdom of wall street.

AMD has been a star performer after languishing  badly for decades.......looks like there is more room to run $40 is the highest target so far.....

NVDA is also looking good after faltering earlier.

MU AMAT INTC QRVO seems to have lost their stride...

GOOG looks weak.....

NFLX looks OK

AAPL is fine.....

FB may have made a double bottom......

All in all lot of opportunity to look @ despite many mistimed tweets......

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed