US stocks on July 13, 2024
$iShares Semiconductor ETF(SOXX.US)
As expected, it hit the upper rail this week and then fell back. The short-term adjustment is not over yet. It is expected that 267.24 is the high point of the left shoulder. At the end of the month, it will fall back to around 245 and then slowly form the right shoulder in August until the NVDA earnings report forms the high point of the right shoulder. Medium-term, there will be a major buying opportunity in September or early October.
The weekly level maintains the view that July and August will form a double top or head and shoulders top, and September will follow the interest rate cut for a major adjustment, presenting a medium-to-long-term buying opportunity.
$iShares barclays 20+ Yr Treasury Bd(TLT.US)
This week was in line with expectations, hitting the previous high near 94. The medium-term target is near 101. Referring to the previous wave from 80 to 99, this round is expected to reach around 86 to 101.
$SPDR S&P Biotech(XBI.US)
It broke through the consolidation wedge very strongly. The rally has just begun here, and we continue to be bullish. After breaking through 94, it could reach near 107.
$Ark Innovation ETF(ARKK.US)
It is about to face the previous downtrend line, but it should not be a big problem. It is in line with the previous projection and is expected to reach near 55.
$iShares Russell 2000(IWM.US)
As expected, it broke through strongly. In the short term, this position may consolidate slightly. If it remains strong and sideways, the market may jump again in the future, with the second target at 220~224. After the small-cap rally in July is completed, it would be more reasonable to look for a overall resonance adjustment.
$Krne Csi China Internet(KWEB.US)
As expected, it rebounded to near 29 and then fell back. After a short-term pullback, we continue to be bullish on another upward wave. However, a new high is unlikely.
$iShares China Large Cap(FXI.US)
We continue to be bullish on a mainly upward trend in July.
$SPDR S&P Region Bank(KRE.US)
This week, it broke through the upper rail strongly. If it pulls back slightly next week, you can buy on dips.
$MicroSectors FANG+ Indx 3x Leveraged ETN(FNGU.US)
A strong bearish candle broke the trendline. Observe whether it can reach near 410 by the end of July. This week, there was a significant outflow of funds from big tech.
$ARK 21Shares Bitcoin ETF(ARKB.US)
The bottom is clearly forming. If it diverges downward again in the short term, you can go long. We are bullish on a rally from July to early August.
$VanEck Gold Miners ETF(GDX.US)
As expected, it broke through to a new high. Observe the 5-day moving average and the trendline. We remain bullish.
$Schwab US Div Eq(SCHD.US)
It strongly broke through the consolidation range. We remain bullish. If it pulls back, you can continue to go long.
$-1x Short VIX Futures ETF(SVIX.US)
Draw the trendline and observe. The medium-to-long-term slow bull market remains unchanged. Wait for two potential buying opportunities at the end of July and late September.
$Proshares UltraPro Short QQQ ETF(SQQQ.US)
Wait for a breakout above the channel to target 8.6.
$SPDR Energy Select(XLE.US)
After the pullback, a structure formed. We are bullish on a breakout above the upper rail of the downtrend channel for confirmation.
$Invesco Solar ETF(TAN.US)
It rebounded quickly. It is not advisable to chase highs. The election is unfavorable, so it is not a focus for now.
$iShares Expanded Tech Software Sector ETF(IGV.US)
After breaking down, there is a need for adjustment. Later, we need to observe the impact of the earnings season on software companies.
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