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SMH continues to make higher highs, Linda Raschke notes
Linda Raschke, Founder at LBR Asset Management, draws attention to the ongoing trend in SMH, noting that the market has not yet come into balance.
Raschke points out that SMH is making consecutive higher highs, a pattern known as "one time framing." She adds that such market runs are the outlier events effectively captured by the 5 SMA system.
Raschke previously reported that the minimum downside objective was reached after the slow line closed below zero on weekly charts, according to a recent update. In a separate note, she identified few new setups for indexes, with a textbook pattern seen on HOG and expectations of a potential setup in Micron the following day, as detailed here. The recent focus on SMH builds on these ongoing market observations.
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