Vertical Research Advisory
Log inJoin Now
Newsletter

VRA Letter: The Bears Are in Trouble. The Most Important Chart, Still Flashing Buy Signals. Front-Running July. Tesla; Skate Where the Puck is Going.

Good Wednesday morning. Solid recovery day in semis/tech yesterday, with NVDA jumping 7% and SMH + 3%. If what we’ve just witnessed was the bears best shot at taking the market down, then they’re in real trouble. While the sem ...

Posted On June 26, 20247 MIN Read
Share:
vra-default-img

Good Wednesday morning. Solid recovery day in semis/tech yesterday, with NVDA jumping 7% and SMH + 3%. If what we’ve just witnessed was the bears best shot at taking the market down, then they’re in real trouble. While the semis/Nvidia each took hits of 18%, the rest of the market only got stronger. Truly a bears worst nightmare.

The most important chart of this bull market continues to be the relative strength chart of SMH (Semi ETF) to SPY (S&P 500). For 20 months…from the birth of of the bull market...this tight ascending channel has consistently pointed to two outcomes; a) the semis have consistently led higher and b) the semis have traded within this tight channel band, which has proven to be an excellent market timing signal. Today, we see that the semis are taking a must needed (extreme overbought) breather. We fully expect the next major move in the semis/tech to be “higher”. We own SOXL (3 x Semi ETF).

Front-running Signaling Seasonal Move Higher into July

...

Continue reading your article and start your free 14-day trial with VRA.

Start Free Trial

Already have an account? Sign in.

Related Post

June 28, 2024
VRA Letter: Friendly Inflation Data with Incomes Rising 6%. The Fed Remains Too Restrictive. Orchestrated Elder Abuse.

Good Friday morning. Breaking: this morning we got the May PCE inflation data (the Fed’s preferred inflation reading) and the results are almost exactly as expected, with the Core Price Index rising .1% m/m, with a y/y reading of 2.6% (which beat by .1%). Importantly, personal incomes rose .5% on the month (beating estimates of .4%), meaning that over […]

June 27, 2024
VRA Letter: Here Comes Q3. Presidential Debate. Heads Up; NAIL. Latest From Rich Ross. Xtract One Tech Lands Florida Panthers. Tamboran IPO.

Good Thursday morning. You know our views. We’re in the Roaring 2020’s and an “Innovation Revolution”, featuring a bull market that will ultimately take the Dow Jones past 100,000 and Nasdaq past 40,000. Buying dips will remain the smartest of smart money strategies. And yes, we’ll be paying close attention to tonight’s Presidential Debate. For all of […]

June 26, 2024
VRA Letter: The Root Reaction.

Good Wednesday morning. I’ll be back later in the day with a full VRA Letter. Until then, thanks again to Wayne for having me on his new show last night "The Root Reaction”. https://x.com/RealAmVoice/status/1805794360224624701 VRA Portfolio Focus Stocks and ETF’s: We own VRA ETF’s: ERX (2 x Energy ETF), SOXL (3 x Semi ETF), TNA (3 x R2K ETF), […]

June 25, 2024
VRA Letter: Healthy Reset in Semis/Tech/Growth as Value Jumps. Bitcoin Hitting Extreme Oversold. Data Centers = Energy Buying Opportunities. Tamboran

Good Tuesday morning. Heads up: I'll be on Real Americas Voice tonight in the 10 PM EST hour with the great Wayne Allyn Root and his new hit show “The Root Reaction”. Hope you can join us! We’re Witnessing a (Healthy) Overbought Reset of Semis/Tech/Growth Here’s what I wrote last Thursday: "The semis (SMH) are going parabolic and nearing […]

June 24, 2024
VRA Letter: Rotational Themes Continue for this “Generational Bull Market”. Macro, Earnings, Fund Flows & Front-Running. Buy Bitcoin on Weakness.

Good Monday morning. Just as we were writing (last Thursday) that we have netted 1000% gains in SOXL (3 x Semi ETF) from the 10/13/22 bear market lows, the opening trades in the semis that morning marked the exact near-term highs. Since, we’ve seen SOXL decline from $68 (to this mornings $58, a 14% decline) […]