Watching EMXC at 95, KWEB bounce seems weak
Been keeping an eye on a few things today. $EMXC dipped below 95 for a bit and is trying to claw back above it. It's sitting around 95.09 as I write this, after trading down to 94.98 earlier. That 95 level, for me, has been a decent pivot point on the short-term charts. If it fails to convincingly hold above it by end of day, especially with the overall market sentiment, I'd consider that a bearish signal for the immediate term. A sustained break below 94.98 could open up some downside.
On the other hand, $KWEB had a bounce off its lows around 28.45, but it feels fairly anemic, currently at 28.54. It didn't even manage to retest the 28.9 high from earlier. The lack of follow-through after the initial dip recovery suggests that the selling pressure isn't entirely exhausted. If it can't build any momentum above 28.7 or so, I'd view this as a potential setup for another move lower, with the risk of invalidation if it breaks firmly above 28.9 on volume.
EMXC's been chopping around that 95 mark for a while. I wouldn't put too much stock in one day's close around it unless it's a decisive break with volume. KWEB weakness isn't surprising given the broader tech sentiment.