Semiconductors vs. Software: The Battle Driving This Market

Tom Bowley recaps a week where major indices held support but remained stuck in consolidation. Although the Dow and small caps show relative strength, the S&P 500 and Nasdaq 100 are still battling resistance. The key story is inside technology, where semiconductor stocks are pressing toward breakouts as software names remain under pressure. Tom highlights this divergence, reviews strength in energy and industrials, and outlines the critical levels that could determine whether this range resolves higher or breaks lower.

This video originally premiered on February 12, 2026. Watch it on Tom's StockCharts TV page here.

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