$SanDisk Corp.(SNDK)$ What the

$SanDisk Corp.(SNDK)$ What the technicals are showing

Because of those solid fundamentals, the big funds are using this broad market correction to accumulate shares, not dump them.

While the broader Philadelphia Semiconductor Index ($Philadelphia Semiconductor Index(SOX)$ ) has been pulling back from overbought territory, SanDisk's Relative Strength Index (RSI) has quickly cooled to a perfectly healthy, neutral 58. It's consolidating nicely in the $1,600 to $1,670 range after tapping its all-time high of $1,831 on June 3rd. It has only slipped a minor single-digit percentage from the very top, while other high-fliers are bleeding double digits.

When a stock refuses to go down on bad macro news, it tells you everything about who's buying. The weak hands have been shaken out, and the institutions are dug in.

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