"Not Overstaying Our Welcome": After Catching The Momo Bounce, BTIG Is "Taking Precautions" For Another Leg Lower

Today is day six of the rally in semis/momentum off last week's lows.

As BTIG chief technical market strategist, Jonathan Krinsky, discussed in 'Anatomy of a Bubble', the median recovery after the first impulse down following a boom/bust top is +35% over 14 trading days.