AMD/SPY ratio chart (PnF) is breaking down!
The relative strength of AMD vs SP500 is weakening since Oct 1st. The ratio PnF chart is flashing a sell signal at this moment. This ratio chart was able to signal the pullback from the June 4.9 high correctly. It is a reliable chart to follow. AMD is about to announce Q3 results in a few days. However, the trading action of the stock in the last few sessions is lackluster. It is unable to close above 5.7 and the head-and-shoulder really concerns me. It is time to play defense and stay on the sideline. I actually bought some SSG today. Generally Semi leads the market and it looks like it is leading this market down. Good Luck!
1 Comments:
Gush! you are right again! People did buy that story of 'beat the estimation'. Sometimes I do suspect you got a holy grail. You are a great one, not 'nice' one.
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