Semiconductors CRASH: Expert Reveals Next Market Moves

Summary

Semiconductor stocks have been absolutely annihilated this week, with some plummeting over 30% and others as much as 45% to 50%. While this might sound dire, for technical traders like Gareth Soloway, chief market strategist at Verified Investing, it presents an opportunity. He's been buying early and taking profits on bounces, believing many semiconductor stocks are near bounce levels, though he doesn't see them reaching new all-time highs. The S&P 500, more diversified than the tech-heavy NASDAQ, showed resilience but also struggled at resistance levels, ultimately ending the day down about 1%. Soloway emphasizes that trend lines weaken with each retest, making a breakdown more likely after multiple touches, likening it to breaking down a door. He specifically analyzes SanDisk, identifying a high-probability bounce zone between $1285 and $1200, reinforced by Fibonacci retracement levels. He also touches on other tech stocks like STX, Seagate, Micron, MRVL, Regetti, and Ion Hugh, noting their price action and potential bounce points, while expressing a bearish outlook on Apple despite its recent gains. In contrast, Bitcoin is highlighted as the best performer over the last two weeks, potentially benefiting from money flowing out of semiconductors. The video offers valuable insights into technical analysis, market cycles, and how institutional investors play the game, making it well worth watching the full content for anyone interested in navigating these market dynamics.