Macro Market · On Our Radar

Semiconductors ETF Looking Toppy

The semiconductors, along with energy, have been the lead dog in this bull run off the June lows. But technicals suggest at least the semiconductors (SMH) will run out of steam soon, as bearish divergence continues building in the past few weeks:


Our statistical and technical algo also has QCOM and TXN as good risk reward short candidates. For QCOM, looking at the weekly chart, current technical conditions resemble that of past 2 overbought conditions which led to a substantial decline in coming weeks:




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