The stock market appears to be limping its way through the final stages of its rally.
The major stock market indices have yet to make new highs and are in stall-out mode. A bit concerning, eh?
These concerns are on full display in today’s chart 4-pack. As you can see, the market-leading Semiconductors Sector ETF (SMH) has outperformed major stock indices like the Nasdaq 100 (QQQ), Nasdaq Composite, and S&P 500 Index.
BUT, the Semiconductors could potentially be forming a double top at (1) while the other indices make lower highs.
Should leadership (SMH) breakout, SUPER BULLISH!!!
What this market leader does at (1) should greatly impact the other three! Stay tuned!!