Weekly Chartbook: June 18th

This is a chartbook for the long weekend:

Nasdaq:

The Nasdaq has a perfectly formed head and shoulders top, with a backtest of the neckline prior to Sayonara!!!

Momentum Semiconductors:

Micron, Sandisk, Western Digital, Seagate, Lam Research, Applied Materials, ASML, KLA Tencor etc...

What I said this week is that bulls SOLD the trade war last year, so they BOUGHT the Iran war this year, which is why markets are parabolic at the END of the Iran war.

The number one global market to watch over this U.S. holiday is Korea:

Korea aka. Sk Hynix and Samsung, just had the biggest 6 day gain in history, in the context of a broadening top.

Bitcoin is another canary in the coalmine as it's imploding again. Watch this over the long weekend.

The Chart of the Week:

Seven out of seven times the Hindenburg Omen indicator signaled a top for Tech stocks.