— David Keller, CMT (@DKellerCMT) December 2, 2021
Today’s Chart of the Day was shared by David Keller (@DKellerCMT). It’s a daily bar chart of the Semiconductor ETF, $SMH, over the past two years. Stocks rebounded today, with some of the major indices finding support exactly where they needed to. If a tradeable low is in, then it would make sense to look for buying opportunities in areas of the market that held up relatively well throughout the recent pullback. David points out that Apple ($AAPL), Semiconductors ($SMH), and Homebuilders ($ITB) all showed relative strength over the past week as the rest of the market was selling-off. It doesn’t hurt that Homebuilders have bullish seasonality over the next few months. Keep an eye on these three names if the market continues to rebound.