The recent stock market rally has seen the S&P 500 Index and Dow Jones Industrial Average make new highs but not the Nasdaq Composite.

By itself, this is somewhat worrisome for tech investors. but it’s even worse for the tech-leading Semiconductors Sector (SMH).

While the Nasdaq has come within a half percent of its high, SMH has only come within 7 percent of its high.

Today, we highlight the Semiconductors under-performance as an important one to watch.

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$SMH Semiconductors Sector ETF Price Chart

Twitter: @andrewnyquist

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.