By Jeff Pierce
I believe the networking index is nearing a short term bottom as it pulls back to the top of the breakout candle. It’s already found support on the RSI at 40, which is exactly where it should if it is to remain in an uptrend. It could drop a little further to the support area indicated, but given how far it’s fallen already there isn’t much downside left.
A few stocks in this index are ELX VMW CAVM BLOX BRCM CSCO CIEN QLGC SONS