Symbol: CREE

Market View

Posted on by Raj Gupta

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq held support along their respective 50-DMA early
this week, before pushing higher on Friday. Both indices are now testing resistance at January 18 intraday highs (S&P 500:
2,675; Nasdaq: 7,185) before a potential move to the 200-DMA. Overall action remains constructive with just one
distribution day on the S&P 500 and zero on the Nasdaq.

Since the follow-through day, five sectors have rallied more than 10%, including Transportation, Consumer Cyclical, and
Technology, which each have rallied more than 11%. Nine of 11 sectors remain above their respective 50-DMA, with only
Utility and Consumer Staple still trading below that level. The rally is broadening, led by industry groups across multiple
sectors including Apparel, Banks, Brokers, Computer Tech Services, Internet, Medical Products, Mortgage Services, Payment
Processors, Rails, Restaurants, Semiconductors, and Software, among others.

WON Global View

Posted on by Anuj Kumar Chouhan

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back to their respective 50-DMA for a second straight session but were again able to hold support and avoid distribution. Look for the indices to continue avoiding distribution and preferably stay above 50-DMA support should we see further consolidation.

WON Global View

Posted on by Anuj Kumar Chouhan

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back to their respective 50-DMA (S&P 500: 2,623 (-0.4%); Nasdaq: 6,973 (-0.7%)) yesterday, but both were able to find support, close off lows, and avoid distribution. There remains just one distribution day on the S&P 500 and zero on the Nasdaq. Given the sharp rise off December lows, consolidation around current levels can be expected. Look for the indices to continue avoiding distribution and preferably staying above 50-DMA support.

WON Global View

Posted on by Anuj Kumar Chouhan

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq both regained their respective 50-DMA last week. We will be looking for this level to act as support should the market pull back. The next level of major resistance is the 200-DMA (S&P 500: 2,741 (+2.6%); Nasdaq: 7,451 (+4%)). Action remains constructive with just one distribution day on the S&P 500 and zero on the Nasdaq.

Market View

Posted on by Raj Gupta

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq both regained their respective 50-DMA. We will look
for this level to act as support should the market pullback. The next level of major resistance is the 200-DMA (S&P 500:
2,741 (+2.6%); Nasdaq: 7,451 (+4.1%)). Action remains constructive with just one distribution day on the S&P 500 and
zero on the Nasdaq.

Since the follow-through day, five sectors have rallied more than 10%, including Transportation and Consumer Cyclical,
which each rallied more than 11%. Further, nine of 11 sectors regained their respective 50-DMA, with only Utility and
Consumer Staple still trading below that level. The rally has been broad, led by industry groups across multiple sectors
including Apparel, Banks, Biotech, Brokers, Computer Tech Services, Internet, Medical Products, Mortgage Services, Rails,
Software, and Trucks, among others.

WON Global View

Posted on by Anuj Kumar Chouhan

The U.S. market is in a Confirmed Uptrend. The Nasdaq held above its 50-DMA (6,989) yesterday, while the S&P 500 is now testing that level (2,628). To remain constructive, we look for the major averages to avoid any major price break lower that changes the character of this move higher. Consolidating at current levels is likely, given the sharp move off the lows. Thus far, both indices continue to show constructive action, trading in tighter ranges with little to no distribution.

WON Global View

Posted on by Anuj Kumar Chouhan

The U.S. market is in a Confirmed Uptrend. The Nasdaq closed above its 50-DMA (6,997) for the first time since October. We will now be looking for this level to act as support should the market pull back. The S&P 500 continues to make good progress since the January 4 follow-through day but remains 80bps below its 50-DMA (2,631). Overall, action remains constructive, with just one distribution day on the S&P 500.

Global Technology Sector

Posted on by Romeo Alvarez

Some highlights from this report:

There’s a lot to process with the current state of semiconductors. 2018, especially the latter half, was a tough year for this sector. We recommend remaining cautious, as semiconductor stocks are still in vulnerable positions despite the recent move off the December 2018 bottom.

The industry faces a challenging global outlook with China-U.S. trade war concerns, muted growth in the smartphone industry, and deteriorating margins in the memory industry.

Focus List recommendations in this report have 5G exposure, an exciting new wireless technology ramping up its rollout in 2019.

The attached report accompanies Romeo Alvarez’s webinar on the State of Semiconductors, on Thursday, January 17, at 11am EST.