IMPORTANT JUNCTURE?

Important times for the NAZ as the index and the SMH are sitting right at the 200 day SMA. The SMH reversed early Friday morning after hitting its highs shortly after 10:00 eastern time. Note the bearish divergence on the SMH as price is higher but stochastics are now making lower highs. Yes, we have seen this picture recently but just another heads up.

The NAZ also hit its highs around 10:00 eastern and sold off but managed to close a hair above its 200 day SMA.

Many folks are still expecting a post expiry sell off and the SMH might be tipping the hand of the market by that red Friday close.