Here's what the charts and indicators are telling us.
Strong rotational action has been driving sectors of the market as the grossly overbought big-cap technology names have corrected.
Are equity markets oversold? Sorry to say, but I don't think so. Not yet.
If we match the chart of the Sentiment Cycle against the S&P, here's where we are now.
These names are displaying both technical and quantitative deterioration.
2021 will be a big year, upside is at least twice the current valuation, and downside is limited to 10% from current levels.
Let's check out the charts of this semiconductor stock.
I'm not bearish PENN in the long-term, but shares are trading 50% above their 50-day simple moving average.
Let's check out two long-term charts on the miner.
If you were a recent buyer of the stock this could be a painful correction.