SMC Update Week Ending 3-1-24 Recorded 3-2-24
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Comments (3)
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I’m not sure why you don’t analyze SMH as the semis incorporate AI, servers and the mania! It’s investing 101 to be aware of a single indicator but the overvaluation argument falls into the old adage that a market can remain irrational longer than you can be solvent! SMH and IGV will tell the tale
PLEASE comment on NVDA as it continues to make new highs. Thank you
Tom McClellan (a seasoned technical analyst) says this about divergences: "Its a condition, NOT a signal" Divergences, overbought RSI's happen in markets. Peter has pointed out a RSI weakening while stocks go up A LOT. . Hasnt mattered one whit. Market is up 16 out of 18 weeks. We will see if any weakness comes in the weeks ahead. There are plenty of gaps on way down to be filled.
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