Stock Market Today: Semiconductors ETF Nearing New Highs

Dan Russo

The stock market has been in rally mode for a couple weeks now, but the rally really came to life yesterday.

The S&P 500 NYSEARCA: SPY gapped over its 50 day moving average and out of its month long trading range. Semiconductors NYSEARCA: SMH are showing strength as well.

In today’s video, we discuss this bullish development in the context of the broader market and multiple timeframes, while highlights stocks and sectors that we like. Here is a recap:

The S&P 500 breaks up and out of the August trading range.

Semiconductors are nearing two-year relative highs.

Investors are beginning to show signs of less risk aversion.

Stock Market Today Video – September 6, 2019

Twitter:  @DanRusso_CMT

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.