Stock Markets Analysis and Opinion
Will Semiconductors (SMH) Double Top Take Stocks Down?
2023.09.08 15:38
The stock market appears to be limping its way through the final stages of its rally.
The major stock market indices have yet to make new highs and are in stall-out mode. A bit concerning, eh?
Indices Comparison
These concerns are on full display in today’s chart 4-pack. As you can see, the market-leading Semiconductors Sector ETF, the has outperformed major stock indices like the (QQQ), , and .
But, the semiconductors could potentially be forming a double top at (1) while the other indices make lower highs.
Should leadership (SMH) breakout, Supper Bullish?
What this market leader does at (1) should greatly impact the other three. Stay tuned.
