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The Trend for the Nasdaq and Semiconductors remains up, as each is near all-time highs and both are reflecting relative strength over the broad markets.
Ths 4-pack above looks at some key price points for Tech and Mid-Caps that are in play at this week.
The upper left chart looks at the Equal Weight/Cap Weight Nasdaq ratio, which has been heading down for years. The downward trend reflects that fewer and fewer tech stocks are keeping the market higher.
Bulls for each of these assets want to see breakouts as each is testing all-time highs, not selling pressure getting started at old highs.