SEMICONDUCTORS LEAD TECH SECTOR HIGHER -- CHIPS LEADERS ARE NVIDIA, SKYWORKS, AND INTEL

John Murphy
by John Murphy,
Pioneer Technical Analyst

SEMIS LEAD TECH SPDR HIGHER... Technology is the day's strongest sector.  Chart 1 shows the Technology Sector SPDR (XLK) rising today to the highest level in nearly three months.  It's being led higher by semiconductors .  Chart 2 shows the PHLX Semiconductor iShares (SOXX) moving above its recent highs as well.

Chart 1
Chart 2

CHIP LEADERS... NVIDIA (NVDA) is the chip leader.  Chart 3 shows the stock hitting a new record today after recently achieving a bullish breakout.  Chart 4 shows Skyworks Solutions (SWKS) trading at the highest level in three months.  Chart 5 show Intel (INTC) nearing an upside breakout as well.   Consumer cyclicals, industrials, communications, and materials are also trading higher.   The Dow is modestly lower and the S&P 500 modestly higher.

Chart 3
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Chart 5
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John Murphy
About The Author:

A trailblazer in intermarket analysis, John authored key texts that shaped technical trading and helped generations of investors decode market trends using charts and correlations. Learn More 

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Tech Taps the Brakes, Homebuilders Hit the Gas: See the Rotation on StockCharts Today

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