Stock Markets Analysis and Opinion
Will Semiconductor Index Drag Nasdaq 100 Down With it?
2023.09.13 04:21
If you’re no longer expecting a breakdown, then here is the classic H&S formation on the (whose components include the giants of this year’s tech rally). Will a break below the SOX neckline help drag down the Nasdaq 100 below 14800?
The Apple (NASDAQ:) event and US CPI release are among the powerful drivers for what’s to come next. But I suspect the indices won’t resolve themselves before the FOMC meeting. We’ve been short NDX (US100) since late last month.
SOX and Nasdaq Daily Chart
