Hunter, who follows strictly charts to make buying and selling recommendations for clients, said they should watch the 1,430 level on thein a note Tuesday. If the index falls below that area, it could mean trouble.
"Starting with the Philadelphia Semiconductors Index underperformance through most of 2018 and then strong relative outperformance late in the fourth quarter, even as the broad market came under accelerated bearish pressure, the industry group has been one of the more sensitive groups to US-Chinese trade developments," said Hunter.on $200 billion in goods, and possibly add tariffs to another $325 billion in goods, that had not been subject to them previously.
Investors are looking for clarity at this point. The trade talks with China will go forward this week, on Monday. But U.S. Trade Representative Robert Lighthizer also said the new tariffs will go through on Friday.tracking the chip index is up more than 33% this year and Hunter said the index continues to bullishly consolidate above the recent breakout for now. The index opened Tuesday down a little more than 1%.
Hunter also said the fact that the S&P 500 held near 2,900 on Monday is a good sign for now. It would take a drop through the 2,800 to 2,846 layer to signal the broader 2019 market rally was breaking down. The S&P 500 was down for a second day on Tuesday, off 0.7% to 2,911 shortly after the open.
Has more to do with using US ports versus using your own business port when in American manufacturing & shipping. When you own your own port you have your own security services which is nothing likened to a US port of call.
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