When semiconductor ETFs rise 3%, SPY is still grinding out 0.5%.



Today's money didn't hesitate; it all went in one direction.

SMH at 651. Still 3% away from the 52-week high of 671.

NVDA at 198. The round number of 200 is right ahead.

DXY is still near its 52-week high of 101.3, the dollar hasn't eased.

Under these conditions, for chips to rally like this, I honestly don't know if they can make new highs.

SMH target 671. If it breaks through, target 700.

If it doesn't, this rebound is over.
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned