Long-Term Weekly SMH Chart.
The semiconductors sector has always been a great read for the pulse of the technology economy (and the ) reflected from this chart from Marketsmith.com
Tech investors often look to the semiconductors for leadership. When semiconductors are leading (or breaking out), it’s a good thing. And because technology is a major part of our economy, all investors should be paying attention to semiconductors.
Today’s chart is a long-term “weekly” chart of the popular VanEck Vectors Semiconductor ETF (NASDAQ:).
As you can see, SMH appears to have created a bullish ascending triangle over the past few months. And, last week, this ETF closed at all-time highs (1).
This breakout sends a bullish message to the tech sector, and the broad markets as well. Now, we just need to see follow-through buying and it will be two bullish thumbs up for investors. Stay tuned.
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