Semiconductors Breakout Would Be 2 Thumbs Up For Stock Market

Semiconductors Breakout Would Be 2 Thumbs Up For Stock Market

Long-Term Weekly SMH Chart.

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

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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: