Semiconductors Leading the Way ?!
By Bennett Tindle July 22nd, 2022
Last week all major indexes and 10 of 11 S&P sectors closed lower…
Semiconductors on the other hand, CLOSED POSITIVE!
In fact, the SMH was up nearly 3% for the week!
Could this key industry group be leading the market out of correction, and more importantly, can it lead the rotation back into growth?
We think so…
Although we acknowledge the possibility markets turn south for one final low, we are continuing to build our shopping lists while preparing to pivot.
AMD as an example just recently met our downside $72 – $75 area target… We’ve been calling for this low for MONTHS, and now that it is here, it’s time to prepare to act…
So tune in as I take you through a chart of the SMH, highlighting key resistance zones we need to break for confirmation, and I’ll see you all back tomorrow morning for our weekly livestream show!