Will Semiconductors Double Top Take Stocks Down?
Chris Kimble | Sep 08, 2023 20:14
The stock market appears to be limping its way through the final stages of its rally.
The major stock market indices have yet to make new highs and are in stall-out mode. A bit concerning, eh?
These concerns are on full display in today’s chart 4-pack. As you can see, the market-leading Semiconductors Sector ETF, the VanEck Semiconductor ETF has outperformed major stock indices like the Nasdaq 100 (QQQ), Nasdaq Composite, and S&P 500 Index.
But, the semiconductors could potentially be forming a double top while the other indices make lower highs.
h2 Should leadership (SMH) breakout, Supper Bullish?/h2What this market leader does at should greatly impact the other three. Stay tuned.
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