Will Semiconductors Double Top Take Stocks Down?
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 (SMH) 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 at (1) while the other indices make lower highs.
More By This Author:
Can Tech Stocks Fight Through “Lower Highs” Resistance?China’s Shanghai Composite Stock Index Nearing “Decision Time”
Nvidia’s Stock Reaches Fibonacci Price Target. Breakout Or Stall Out?
Disclosure: Sign up for Chris's Kimble Charting Solutions' email alerts--click here.
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
