Today’s Chart of the Day was shared on Twitter by David Zarling (@AdaptivCharts). It’s a weekly candlestick chart of Taiwan Semiconductor $TSM. In a report today, we highlighted the ongoing breakout in Semiconductor stocks. $TSM is the largest component in the popular Semiconductor ETF, $SMH. As you can see, $TSM is testing that key $45 […]
Chip Stocks Breaking Out!
Yesterday we discussed the improvement in Small-cap stocks and why it favors the bull case for US Equities. Another bullish technical development that deserves some attention here is the breakout in Semiconductor stocks. Semiconductors are found in almost anything tech-related. Therefore, they serve as a good leading indicator for the Technology sector, as well as […]
Chips Ahoy!
One particular area of the market that has gotten a lot of attention in the last 24 hours is Semiconductors. And as we know, strength from this group – both relative and absolute – is considered to give a bullish tone to the overall equities market. In fact, some have argued that Semiconductors are one […]
Real Leadership: Relative Strength vs New Highs
On Monday, Instinet’s Frank Cappelleri posed the following question in his morning note: “So, what are the true leaders? The areas that are UP the most from the lows? Or the ones that are the first to make NEW HIGHS?” I thought this was a great point as we have a dichotomy in the market right […]
Is the Reversal for Real?
Earlier today, Dan Russo, Chief Market Strategist at Chaikin Analytics, gave us his thoughts as to whether the latest uptick in equities prices should be trusted or not. One of the best things about following Dan’s daily “Stock Market Today” videos (put out each morning) is that he is extremely consistent and systematic in his […]
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