$ARM

A DISTURBANCE IN THE FORCE? Interestingly the indicator flipped to ‘Risk Off’ this morning. The avg regime duration is 5 days. So, some consolidation is likely in order, and the signal can flip to Risk On if dip buying turns profitable. Also, we saw some weakness in earnings results today and semis that reported stopped popping see $ARM for example. So, there is a disturbace in the force. Also, note (2) that the spread between high vol and low vol names is very wide. The (3) funding side for owning semis - the capex payers like $MSFT - rallied today. Let’s see how this indicator does. It was correctly bearish in the SoH conflict, and flipped bullish in early April. I do think there are so many bargains out there from the liquidity moving into semis, that fishing in other p