A week ago today an upside breakout looked to be taking place in the Semiconductor Index ETF (XSD), suggesting that we should be a buyer and to look for “relative strength” in this position (see post here)
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Quality price action is taking place in this ETF and relative outperformance continues. Keep a 4% trailing stop on this position. In the past, quality action in this sector has been a good sign for the broad markets.
