The charts on the Semiconductors simply look BAD!
There is nothing redeeming about them here, and there are plenty of more earnings reports to come out on them still, including the big names like Advanced Micro Devices (AMD), Nvidia (NVDA) and Intel (INTC).
Don’t get me wrong, I love trading semiconductor stocks. I tend to only buy them and not short them. But right now, I don’t have anything related to the semis in my portfolio.
If the earnings comes in well on the big names and the reactions are favorable as well, perhaps that will change, but as it stands for the moment, the semiconductor charts are all acting like they want to rollover, and that should leave you cautious, at the very least, when it comes to trading any of them.
Semiconductor ETF (SMH)
Nvidia (NVDA)
Micron (MU)
