Over the course of the 15-year bull market, investors have seen important pockets of leadership emerge.
And, as we have highlighted several times, leadership has come in large part due to tech stocks and, more specifically, semiconductor stocks.As you can see, the Semiconductors sector has shown weakness in 2024. In fact, the ratio peaked on the first day of summer before making a lower high recently.
That weakness, however, has not led to a wholesale selloff… yet. BUT if this head and shoulders pattern continues to take shape and breaks support at , it would suggest that Tech leadership is taking a breather… And a bigger selloff may be afoot.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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