Since we're now below the 200 MA and re-confirmed the prior resistance levels we are looking to create a new range.
The Market is full of fear right now, Rate hikes, emergency FED meetings, fears of a war in Ukraine, Long term fears of stagflation, or recession.
When you see the solid companies in this sector (NVDA, AMD) getting hit you know people are selling everything.
I just put some lines on the chart of prior support level. It's around 28 +- That would be a 30% drop.
Since this is a 3x ETF that would be an approx. 10% drop in the PHX or SMH. According to Tom Lee of fundstrat, a 1% raise in interest rates is usually accompanied by a 10% drop in Equities. We've already had a 10% SPY correction, so now the market is starting to price in some more interest rate raises.
The Market is full of fear right now, Rate hikes, emergency FED meetings, fears of a war in Ukraine, Long term fears of stagflation, or recession.
When you see the solid companies in this sector (NVDA, AMD) getting hit you know people are selling everything.
I just put some lines on the chart of prior support level. It's around 28 +- That would be a 30% drop.
Since this is a 3x ETF that would be an approx. 10% drop in the PHX or SMH. According to Tom Lee of fundstrat, a 1% raise in interest rates is usually accompanied by a 10% drop in Equities. We've already had a 10% SPY correction, so now the market is starting to price in some more interest rate raises.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。