The recovery in semiconductor shares ($DJUSSC) last week, in my opinion, was quite weak. Much of the strength occurred by 10am ET, and the balance of the days really didn’t see much progress back to the upside. Accordingly, I’d call the rebound more market maker manipulation than anything else. I believe we’re going to see a difficult period for the semiconductors for awhile and, make no mistake about it, I’ve been VERY bullish semiconductors in 2024 thus far. I do see a further rise ahead for U.S. equities, but if semiconductors, which account for 11% of the S&P 500 and 25% of the NASDAQ, don’t perform as well in the second half of the year, what areas might pick up the slack and lead our market higher? Software We just saw a solid quarterly earnings report from Adobe Systems (ADBE) and the stock exploded higher, gaining more than 20% since…
