Is a leading Tech sector about to send the broad market a key message? In our opinion, yes!
This chart looks at the Semiconductor/S&P ratio over the past couple of years.
When the ratio peaked around March of last year at (1), numerous indices in the states (NYSE, Mid-Caps, Small Caps) and around the world (EEM & EFA) started to create a series of lower highs.
The SMH/SPY ratio is again testing the highs of early 2018 at (2).
Many indices in the states and around the world, need this ratio to continue to move higher/experience if they are to experience upside price action going into year-end.
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- I am surprised a Japanese magazine would allow this to run, but it is correct…
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- Bibi Netanyahu Squashes Embarrassing Anti-Christian Bill
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