Semiconductors Don't Like Expensive Credit
Updated
Semiconductors have been rangebound since rates increased in January. Tech and in particular semis lead the market due to it being capital intensive. Rates have started to lower but semis cannot breakout. Long consolidation patterns usually end with an impulsive move to the top or the bottom. The way semis move will dictate broader markets.
Note
Note
Semi is now in an upward channel. Could be a Bear Flag or could breakout at the top.
You could buy with a stop at around 443 if you are bullish on markets.
Soxx is up 1000% over the last twenty years
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