May. 13 at 4:46 PM
$NOW semis up, software down. semis down, software gets shorted in a beta play to the downside. price breaking under the wedge, headed to ER lows. Daily Chart.
A close over
$95 by friday session end will save this in the short term. Otherwise we likely trade between
$80-
$90 till the Q2 print. 50MA at 100 acting as a strong ceiling. No catalysts for a while, and chances
$CRM sells on earnings that will add pressure to the entire sector. Buy and hold, shorter term sell puts. Buying calls is an easy way to burn capital. Cheap but market irrationality playing out.
A close over
$95 is the line in the sand for a rally.