Semis Are Testing Strong Support

By Chris KimbleETFsOct 12, 2018 10:30AM ET

www.investing.com/analysis/leadership-since-2009-lows-testing-strong-support-says-joe-friday-200348189

Semis Are Testing Strong Support

By Chris Kimble | Oct 12, 2018 10:30AM ET

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US500

+1.30%

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SMH

+4.91%

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Vaneck Vectors Semiconductor ETF

Few if any sectors have been stronger than Semiconductors over the past 9 years. The table below highlights that SMH almost doubled the performance of the S&P 500 since the 2009 lows. Softness this year has SMH testing rising support and this year’s lows at (1) above.

Performance Since 2009 Lows

This leading sector is facing a very important support test at this time!

A bounce is due as momentum is now reaching oversold levels. The long-term bull trend would receive a concerning message from SMH if it breaks support a few weeks from now. Keep your eye on tech leadership at this key price point friends. In time we feel what they do at (1), will send a very an important long-term message to the broad market and the tech sector.

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Comments (1)

WANDERLUST srt Oct 12, 2018 2:46PM ET

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All it takes is a little ease in the trade war and these shoot right up

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US 30	33,157.5	+64.2	+0.19%
US 500	4,215.1	+9.6	+0.23%
Dow Jones	33,093.34	+328.69	+1.00%
S&P 500	4,205.45	+54.17	+1.30%
Nasdaq	12,975.69	+277.59	+2.19%
S&P 500 VIX	17.45	-0.50	-2.79%
Dollar Index	104.140	+0.004	+0.00%

Crude Oil WTI	72.09	-0.58	-0.80%
Brent Oil	76.25	-0.73	-0.95%
Natural Gas	2.359	-0.058	-2.40%
Gold	1,968.05	+4.95	+0.25%
Silver	23.402	+0.042	+0.18%
Copper	3.6815	-0.0005	-0.01%
US Soybeans	1,335.88	-0.37	-0.03%

U.S. 10Y	3.762	-0.059	-1.54%
U.S. 30Y	3.909	-0.067	-1.69%
U.S. 5Y	3.938	+-0.012	+-0.31%
U.S. 3M	5.302	-0.020	-0.37%
US 10Y T-Note	112.67	+0.27	+0.24%
Euro Bund	134.25	+0.91	+0.68%
10-2 Yield Spread	-76.02	-4.43	6.19%

Apple	175.43	+2.44	+1.41%
Alphabet A	124.61	+1.13	+0.92%
Tesla	193.17	+8.70	+4.72%
Amazon.com	120.11	+5.11	+4.44%
Netflix	378.88	+19.88	+5.54%
Meta Platforms	262.04	+9.35	+3.70%
Bank of America	28.31	+0.14	+0.50%

Semis Are Testing Strong Support

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