The semiconductors sector has always been a great read for the pulse of the technology economy (and Nasdaq Composite).
Tech investors often look to the Semiconductors for leadership… and when they are leading (or breaking out), it’s a good thing. And because technology is a major part of our economy, ALL investors should be paying attention to Semiconductors.
Today’s chart is a long-term “weekly” chart of the popular Semiconductors ETF $SMH.
As you can see, $SMH appears to have created a bullish ascending triangle over the past few months. And, last week, this etf closed at all-time highs (1).
This breakout sends a bullish message to the tech sector and the broad markets as well! Now we just need to see follow through buying and it will be 2 bullish thumbs up for investors! Stay tuned!
$SMH Semiconductors “weekly” Chart
Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to firstname.lastname@example.org for details to get set up.
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.