Semiconductors Sit This Rally Out: INTC, BRCM, SMH

It is very strange to see such a euphoric stock market rally and not have the semiconductor index participate. Every talking head in the financial media is raving over the better than expected job report. They are all raving about the Dow Jones Industrial Average making a new 52 week high this morning. While the rally looks good we must ask ourselves what is going on in the semiconductor index. This morning the Semiconductor Holders Trust (NYSE:SMH) is trading lower by 0.15 cents to $34.44 a share. The SMH is also still trading below it’s daily chart 50 moving average which is at $34.93. When a stock or ETF trades below it’s daily chart 50 moving average this is usually a sign of weakness and must be watched closely.

Other leading semiconductor stocks that are trading lower this morning are Intel Corp. (NASDAQ:INTC), and Broadcom Corp. (NASDAQ:BRCM). These two semiconductor giants are also major components of the S&P 500 Index and the NASDAQ 100 Index. Intel is actually also a component of the Dow Jones Industrial Average.

About Nicholas Santiago 576 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

Visit: InTheMoneyStocks

Be the first to comment

Leave a Reply

Your email address will not be published.