Semis Are Testing Strong Support

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Semis Are Testing Strong Support

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

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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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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