A Look Inside the US Stock Market

US stock market leadership is intact

We noted in NFTRH that Semiconductor leadership was well intact, but overbought. That is being remedied now as SOX/NDX and SOX/SPX pull back.

Within Semi, the premier Semi Equipment stock, LRCX, is still in leadership mode, which I see as a positive as well, because the Equipment companies supply the Fabs that make the chips. i.e. they anticipate demand.

Big Tech (NDX) vs. the broad (SPX) has ticked a new leadership high after feigning a breakdown back in November. Ah the news-diddled, policy-stoked stock market, you gotta love it.

At this time the picture is normal to a still-bullish view.