Investors can find and invest in leadership in any sector. However, one sector that has been a sign of broad leadership and market risk is the Semiconductors.
When the semiconductors are lagging, the market tends to be a bit dis-jointed. When the semiconductors are leading, the market tends to be full of joy.
Today we look at the Philly Semiconductor Index. The broader market has been resurgent. And guess what? So has the Semiconductor Index.
A confirmed breakout here would target 6000 (last spring/summer highs), and perhaps beyond.
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Philadelphia Semiconductors Index Chart
Here we see the move to new multi-month highs. And the broader market (and risk-on assets) will love it if the semiconductors continue to rally.
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.
