SSG UltraShort Semiconductors ETF Daily Chart Falling Wedge Oversold Positive Divergence

Keystone started buying SSG today, the target from the Positions and Picks page on this web site for SSG was hit at 33.4-ish. The blue lines show the falling wedge, oversold stochastics and positive divergence in place which should launch price. To further bolster the bullish SSG side, the weekly chart is positively diverged which provides street cred for the projection higher. Of course, a bounce in SSG now means semiconductors ($SOX and SMH) will sell off, and as would be expected, the semi charts are negatively diverged.

Initial target is the 20-day MA at 35. Keystone is also adding to the TYP position initiated on Friday which is a triple X inverse of the tech sector, similar to QID and PSQ as well. A crack in semi's and/or AAPL, should it occur, will make the inverse tech ETF's winners. Traders should lock in profits in technology after the epic Q4 and Q1 run we just experienced. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.

Note Added 3/19/12 at 8:33 PM: As the old trading joke goes, Keystone likes SSG at 33.3 so he has to love it at sub 33. Keystone will keep buying.