The Semiconductor sector appears to be re-taking leadership
The broad Semiconductor sector is hinting to take back its leadership over big Tech and possibly the broad SPX as well on the daily chart view.
While a look inside the sector’s internals shows that two premier Semi Equipment companies, Applied Materials and Lam Research are constructive and not yet actionable with respect to leadership by companies that are supplying chip makers with the capacity to address the global chip shortage. Logically, we’d want to see Semi Equipment still in leadership mode in order to avoid ‘late stage’ signaling.
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