The semiconductors sector has always been a great read for the pulse of the technology economy (and Nasdaq Composite) reflected from this chart from Marketsmith.com
Tech investors often look to the Semiconductors for leadership… and when they are leading (or breaking out), it’s a good thing. And because technology is a major part of our economy, ALL investors should be paying attention to Semiconductors.
Today’s chart is a long-term “weekly” chart of the popular Semiconductors ETF $SMH.
As you can see, $SMH appears to have created a bullish ascending triangle over the past few months. And, last week, this etf closed at all-time highs (1).
This breakout sends a bullish message to the tech sector and the broad markets as well! Now we just need to see follow-through buying and it will be 2 bullish thumbs up for investors! Stay tuned!