Semiconductor Index; Bollinger Creep…

By Gary Tanashian of Notes From The Rabbit Hole

NFTRH & Biiwii's Unique Market Perspectives • Jun 17, 2014 at 3:51 PM EDT

The Semiconductor index is creeping up the top of its daily Bollinger Band and is over bought…

…and creeping up the top of its weekly Bollinger Band and is over bought…

…and of course it is creeping up the Bollinger band on the monthly as well and yes, is over bought. This is the view we first used last year to gauge the prospect of a stock mania blow off scenario.

Hey look, anything can change in a heart beat but as it stands now the manic blow off scenario is still alive and well if SOX is a good guide. I actually shorted the SOX (against NFTRH+ longs INTC and LSCC, both still held) and quickly covered. Silly me.

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