THE SOX SAVING THE DAY

One of the worst groups recently has been the mega-important SEMICONDUCTORS (SOX). Today, it has been showing relative strength from the get go. When the DOW was down 350 at its lows, the SOX was flat to up. This enabled the NASDAQ/NDX to also outperform the DOW markedly today. When you have a second, go look where the SOX is and for that matter, go look where the DOW was at its lows….THE LONGER-TERM 200 DAY AVERAGE. Do you think the big money doesn’t know this? A rhyme and a reason. Protect at all costs. Of course, there are almost 2 hours left as we write this and of course, the almighty IPHONE maker reports after the close.