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Semis Are Testing Strong Support

By Chris KimbleStock MarketsOct 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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Vaneck Vectors Semiconductor ETF
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
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.

Semis Are Testing Strong Support
 
Semis Are Testing Strong Support

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WANDERLUST srt
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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