Tech leadership continues to test Dot.com highs

Sharing is Caring!

by Kimble Charting

CLICK ON CHART TO ENLARGE

Semiconductors (SMH) have been bullish leaders over the broad market since the lows in 2009. Over the past 9-years, SMH has nearly doubled the upside gains of the S&P 500 and has been stronger than the NDX 100 as well.

READ  Father of Michael Brown joins ANTI-BLM leadership movement as more chapters demand to know where $90MILLION is being spent

The 500%+ gains since the 2009 lows have SMH testing the highs of 2000 at (1). While testing the 2000 highs this year, SMH has created a few monthly reversal patterns. Even though these reversal patterns have taken place, sellers have not been able to gain the upper hand.

READ  Commodity-Driven Inflation Isn’t Transitory If Surge Continues (Fed Didn’t Mention M2 Money Surge Or Crashing M2 Velocity)

The bullish trend for SMH remains intact. It would take a break of support at (2) for this leading tech ETF to send a bearish message to the broad market.

589 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.