Stock market and technical analysis: Tim Knight came in Monday morning saying the bears had to go down or face existential wipeout, and the market delivered. The ES dropped 40 points live on air while he was still talking. SK Hynix IPO already faded 7% from its premium, and Tim calls it the marker that the semiconductor sector is done. SpaceX hit another lifetime low with the August 11 lockup approaching. Every semi he is short cracked: AMAT down 3.3%, Nokia down 6%, UMC down 4%, AXTI down 11.5%, Micron down 5.3%, Seagate down 6.2%, WDC down 7%. Bitcoin saved him from a weekend scare. And the Dow was the last man standing until it sealed its gap.
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Chapters
00:00 SK Hynix IPO: worst corporate name, already fading 7%
00:43 SpaceX at lifetime lows, A...