The semiconductor index is leading the way for now.
The Semiconductor Index (.SOX) broke out to a new high this week. If semiconductor stocks are moving higher, we feel it is a good sign that the broad markets will also, potentially, continue to move higher. So, we will be watching to see if the S&P can also break out and stay new highs.
Views expressed are those of the author and are subject to change without notice. Charts are provided for illustrative purposes only. The Philadelphia
Semiconductor Index (SOX) is a price-weighted index composed of 18 U.S. semiconductor companies primarily involved in the design, distribution,
manufacture, and sale of semiconductors. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of
the U.S. stock market. Keep in mind that indexes are unmanaged and individuals cannot invest directly in any index. Past performance is not indicative
of future results. There is no assurance these trends will continue. Investing always involves risk and you may incur a profit or loss.