AMAT's strongly negative weekly momentum points to a decline through February and a likely November drop, followed by a rebound attempt and possibly another sell-off; he sees this as not the right time to buy semiconductor stocks.

Let's take a quick look at AMAT stock. We will look at these indicators. As you can see here, look at this negative image as it enters this cycle. This indicates a decline in Applied Materials stock through February.

You can observe this cycle here where it has seen almost no rise. What happens is that when the negative momentum is very strong on the weekly chart, the cycle may sometimes fade due to the large downward pressure , and that is what is happening now.

Again, these are special indicators; the Slim Ribbon PO indicator is a Level 4 option bias indicator. So, you might want to take a look at our Level 4 memberships.

Well, we have negative momentum here at Applied Materials. This suggests to me that the stock is likely to decline sometime in November, which is consistent with what I see in the stock market, and then there will be a rebound attempt, and perhaps another sell-off.

Therefore, the performance of Applied Materials is extremely negative when viewed . Again, as you know, this indicates to me that if you want to buy semiconductor stocks, this is not the right time.