Semiconductors rallied today helping the Nasdaq end positively. The Philly semiconductor index broke out today and this could really lend support to a tech rally. While it's possible that this is a false breakout, RSI is making fresh highs here with some room to run.
Here is a chart of the $sox showing it rising out of a descending broadening wedge.
I'm short on time tonight so I won't be posting any charts. I had a lot of watchlist picks trigger this week, so I only have room for a position or two. I am adding HOKU, and MDRX to my watchlist tomorrow.
Good Luck,
DT
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