Contacting Tech Support (PREMIUM-UNLOCKED)
The following post was originally issued to TLS members pre-market on Wednesday, October 23.
Various technology funds that we have been stalking are testing key technical levels.
As you know, we have been on the lookout for favorable long entry points in select areas of the stock market ahead of a potential breakout and (at least temporary) new up-leg. Those select areas, outside of the general large-cap space, are mainly focused in the technology space. With today’s expected pullback, we are getting those favorable entry points today at the following (ideal) levels in these funds:
XLK: 79.80-80.10
SMH: 121.30, 118.85
XSD: 90
QQQ: 188.85-189.70
SOX Semiconductor Index (not investable, just for reference): 1577, 1548
Nasdaq 100 Index (not investable, just for reference): 7772
These charts are all nice and clean with key technical support levels that are clearly discernible. We like that fact as it gives us confidence in the reliability of the levels. As you know, we’ve been tracking these tickers nearly every day in our Daily Strategy Session videos so that we know where we want to pull the trigger on the buy side should we get the opportunity. We are getting that opportunity now — and we are pulling the trigger.
Stay tuned to the DSS videos for further updates as things develop.
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Disclaimer: JLFMI’s actual investment decisions are based on our proprietary models. The conclusions based on the study in this letter may or may not be consistent with JLFMI’s actual investment posture at any given time. Additionally, the commentary provided here is for informational purposes only and should not be taken as a recommendation to invest in any specific securities or according to any specific methodologies. Proper due diligence should be performed before investing in any investment vehicle. There is a risk of loss involved in all investments.
