Stocks Analysis by Michael Kramer covering: Nasdaq 100, S&P 500, VanEck Semiconductor ETF, Wingstop Inc. Read Michael Kramer's latest article on Investing.com
The market has been relatively flat, with some metrics hitting certain levels of what seems like stupidity. One has to wonder how far things will be pushed before the rubber band snaps back the other way., for example, has now traded above the upper Bollinger band four out of the 5-weeks and has an RSI of over 75 on the weekly chart.
It doesn’t have to mean anything; we have seen similar measurements that haven’t mattered at all. But one that we can pay some attention to. The big question will be what happens for the WING at the 10-week exponential moving average because that has been a support level for the shares. A break of that moving average would signal a break in trend.
The one thing WING does have in common is that it is a risk asset. This seems to suggest that the rise in valuations across the market has much more to do with excess risk-taking than anything else. So, at this point, we have to wait to see if the rubber band snaps back or breaks altogether.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
S&P 500 Vaneck Semiconductor ETF Wingstop Inc
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