The S&P Semiconductors Select Industry Index has topped both price-wise and on a relative basis. That bodes poorly for the sector.
The S&P Semiconductors Select Industry Index is rolling over—and that’s bad news for the broader stock market.
S&P Semiconductors is an equal-weighted index. Unlike the broad stock market indexes, its relative strength has recovered just half of the decline from its 2000 top. Because the index is often a leading indicator for the stock market, its inability to breach resistance indicates that the broad stock indexes will be pulling back in the coming weeks.
The chart below illustrates the weakening relative strength of the group. Against the S&P 500 Equal Weight Index, the semiconductors have formed a rounding top at a 23-year resistance. And while many indexes exceeded their 2000 peaks by healthy margins, the semiconductors’ relative strength recovered just half of its decline from its 2000 peak.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Payday 3 Drops to 'Mostly Negative' Score After Topping Sales ChartsPayday 3 has been hit with tons of negative reviews due to matchmaking issues.
Weiterlesen »
AKMU, BTS’s Jungkook, CRAVITY, DKZ’s Jaechan, And FIFTY FIFTY Top Circle Weekly ChartsAKMU, BTS’s Jungkook, CRAVITY, DKZ’s Jaechan, And FIFTY FIFTY Top Circle Weekly Charts
Weiterlesen »
Bert Kreischer's The Machine Lands on Netflix, Immediately Conquers Movie ChartsThe Machine didn't make waves in theaters, but it's been a quick hit for Netflix.
Weiterlesen »
WGA Deal: How Quickly Will Sidelined Daytime Talk Shows Like ‘Drew Barrymore’, ‘Jennifer Hudson’ & ‘The Talk’ ReturnThe 2023-24 television season started without several of the most prominent daytime talk shows, the syndicated The Drew Barrymore Show, The Jennifer Hudson Show and The Kelly Clarkson Show and CBS&…
Weiterlesen »
32nd annual AIDS Run and Walk Chicago to step off at Soldier Field Sept. 30'Show up, Show Out' is this year's theme to encourage the Chicagoland community to show up and show out in their most authentic self to mobilize for equity and justice for individuals who are living with or vulnerable to HIV/AIDS in Illinois.
Weiterlesen »
Cindy Crawford Complains Oprah Treated Her Like Chattel on Talk ShowCindy Crawford says when she went on Oprah's talk show back in the day, she didn't think it would turn into what looked like a Miss America-type competition.
Weiterlesen »