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September 12, 2024

This Critical Support Level is Holding Up

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart tracks the SMH ETF, which covers semiconductor stocks. The red line shows the 200-day moving average, a key indicator of long-term support. Over the past year, semis have tested this support three times, and each time it’s held strong – including earlier this week. With semiconductors leading the AI rally, this is a great sign for the market’s overall health. But remember, leadership can always shift without derailing the bull market.

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September 12, 2024 No Comments
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