After Nvidia (NVDA) dropped after earnings this week, investors are once again reminded of the importance of the semiconductor space. I think of semis as a “bellwether” group, as strength in the VanEck Vectors Semiconductor ETF (SMH) usually means the broader equity space is doing quite well. Today, we’ll look at a potential topping pattern forming for the SMH, what levels would confirm a top for semiconductors, and what weakness in this key group could imply for our equity benchmarks. Presenting the Dreaded Head-and-Shoulders Top Pattern Ralph Edwards and John Magee, in their classic text Technical Analysis of Stock Trends, laid out the analytical process for defining a head-and-shoulders top. I’ve found that any price pattern like this consists of three important phases. First, we have the “Setup” phase, where the price action begins to take on the appearance of a certain phase. This is when your brain tells you, “This is definitely a…
After Nvidia (NVDA) dropped after earnings this week, investors are once again reminded of the importance of the semiconductor…
We had a sneak preview of emerging leadership on the morning of July 12th. That was the morning the…
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It’s All Still Relative The weekly Relative Rotation Graph, as it looks toward the close of this Friday (8/30)…
The thin trading ahead of Labor Day weekend is here. Despite that, on Thursday, the Dow Jones Industrial Average…
In this StockCharts TV video, Mary Ellen reviews the broader markets, including NASDAQ weakness, and the outperformance in the equal-weighted…
After Nvidia (NVDA) dropped after earnings this week, investors are once again reminded of the importance of the semiconductor…