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Will Semiconductors Double Top Take Stocks Down?

By Chris KimbleStock MarketsSep 09, 2023 05:14

au.investing.com/analysis/will-semiconductors-double-top-take-stocks-down-200577916

Will Semiconductors Double Top Take Stocks Down?

By Chris Kimble | Sep 09, 2023 05:14

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SMH

-1.07%

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NDX

-0.25%

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US500

+0.38%

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IXIC

-0.23%

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The stock market appears to be limping its way through the final stages of its rally.

The major stock market indices have yet to make new highs and are in stall-out mode. A bit concerning, eh?

Indices Comparison

Indices Comparison

These concerns are on full display in today’s chart 4-pack. As you can see, the market-leading Semiconductors Sector ETF, the VanEck Semiconductor ETF has outperformed major stock indices like the Nasdaq 100 (QQQ), Nasdaq Composite, and S&P 500 Index.

But, the semiconductors could potentially be forming a double top while the other indices make lower highs.

Should leadership (SMH) breakout, Supper Bullish?

What this market leader does at should greatly impact the other three. Stay tuned.

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