Checking back in on the view of a post-2012 leader, the semiconductors with a monthly chart of the SOX.
We had noted for months that the index was creeping up the top of the Bollinger Band for the first time since before its epic blow off in 1999. This month it is falling away from the top of the BB with the monthly EMA 10 right there as would-be support. If it were to drop to the middle of the BB however, that would constitute a test of the long-term breakout.
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