Semiconductors Lead, The Market Follows π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by J.C. Parets.
Semiconductors (SMH) closed at new all-time highs today, on both an absolute and relative basis.
After clearing its prior cycle highs in late 2023, semiconductors have stair-stepped higher, using the Fibonacci extension levels as guideposts along the way.
The performance gap between semiconductor and software stocks also continues to widen, with software on pace for its worst week in history versus semis (IGV/SMH).
The Takeaway: Semiconductors remain a key leadership group, with new highs helping to drive the market's recovery.
More Great Charts
High-beta stocks are approaching new relative highs versus the broader market.
Read the full analysis from Shane Murphy.
Since 1980, the S&P 500 has delivered +12% annualized returns despite an average intra-year drawdown of -14%.
Access the latest article from Charlie Bilello.
Software is making new multi-year lows versus the S&P 500.
See the entire tweet from Matt Cerminaro.
Software and the Nasdaq moved in sync through yesterdayβs open, but software collapsed to close down -1%, while the Nasdaq held strong with nearly a +3% gain.
That weakness from software has carried over into today's session.
Check out the full article from Bespoke.
Technology insider buys are at the highest levels in 15 years.
View the whole tweet from Jay Kaeppel.
Financials are seeing the highest percentage of stocks hitting new 20-day highs.
Examine the full post from Randy Dunham.
Oil Services stocks are showing relative strength within the Energy sector.
See the entire tweet from Equity Clock.
20+ Year Treasury Bonds are testing their pivot lows from last August.
Read the complete note from See It Market.
One-year price action in Bitcoin mirrors past declines (2015, 2018, 2022), with an average six-month forward return of +55%.
View the whole tweet from The Orion Engine.
The Chart Report curates best-in-class technical analysis from across the web.
If youβd like to share a chart or just say hello, email us at [email protected]
