≈ Wow, just wow. ≈
Remember when the Nasdaq was lagging? Yeah, that’s over. The tech-heavy Index has caught up and surpassed the S&P 500 (27% year-to-date gain vs. 26%). An eruption in semiconductor stocks has fueled the recovery. In fact, we’re in the biggest breakout for the Semiconductor ETF (SMH) of 2021.
For months, supply chain worries held the industry back, but last week’s Qualcomm (QCOM) report laid many concerns to rest. Together with Nvidia (NVDA) and Advanced Micro Devices (AMD), this trio has driven SMH to the moon. The pace is wholly unsustainable, and a pullback or pause is desperately needed. But if you want to know where momentum is hottest – it’s here. If we’re lucky, a low-risk entry point will present itself in the days to come, allowing a more palatable purchase.
Chart of the Day: Semiconductor ETF ($SMH)
Buyers are stampeding into chip stocks. Not the parabolic rise and sharp volume surge over the past two weeks. Congratulations are in order to those riding the wave.
Video of the day: How to use the Relative Strength Index (RSI) Indicator – Gino’s Gems
Coach Gino explains how to use the Relative Strength Index (RSI), a momentum indicator that measures the strength of recent price changes on charts to analyze overbought and oversold conditions.
Today’s line up
Tales of a Technician: How Rising Interest Rates Impact Stocks
In today’s video, I explain how bond prices and yields work. You’ll learn how interest rates impact the stock market as well.
Traders Lounge 11 PM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show 8:30 PM EST
This is our weekly MasterMind group. Join the coaches tonight, 8:30 PM EST to discuss the markets and help you prepare for the week.
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only Matt and Tim can deliver.
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