Look at all these former tech market leaders: LRCX, KLAC, AMAT.. All breaking down hard and straight below their 50 day moving averages.
Also, the memory chip names and equipments names: MU, STX, WDC.. All breaking down just as bad, if not worse. These names are usually leading indicators when it comes to semi conductor names which are holding up thus far. As of now, the only momentum semi conductor names to break down are NXPI and CREE. Lets see what happens to SWKS, AVGO, NVDA and AMD. QCOM still looks somewhat strong.
If I had to guess, the next chip to fall ( no pun ) will be the semi’s. Perhaps QCOM could be an outlier and continue upward but who really knows. This is just my humble opinion based on the charts.
Also, the memory chip names and equipments names: MU, STX, WDC.. All breaking down just as bad, if not worse. These names are usually leading indicators when it comes to semi conductor names which are holding up thus far. As of now, the only momentum semi conductor names to break down are NXPI and CREE. Lets see what happens to SWKS, AVGO, NVDA and AMD. QCOM still looks somewhat strong.
If I had to guess, the next chip to fall ( no pun ) will be the semi’s. Perhaps QCOM could be an outlier and continue upward but who really knows. This is just my humble opinion based on the charts.
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