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This Critical Support Level is Holding Up

Hey, Ross here:

It’s been a choppy ride for the market.

No one seems to know where it’s heading next (even though a quarter-point cut is by far the most likely outcome next week).

So let’s dive beneath the surface and look at how support for one dominant sector has been holding up.

Chart of the Day

This is an ETF (SMH) tracking a broad basket of semiconductor stocks.

The red line is its 200-day moving average – a sign of its longer-term direction, and one that commonly acts as moving support.

As you can see, this long-term support has held up very well for this sector.

Over the past year, it’s tested its 200-day moving average three times – most recently in August and earlier this week.

This support has held up all three times.

Thanks to the AI rally, semiconductor has been the dominant sector all through this bull market.

Now that can always shift – without necessarily jeopardizing the bull market.

But the fact that this sector’s long-term support is holding up is overall a positive sign for the health of this bull market.

Insight of the Day

Money is made byShort-term volatility + long-term market health = consistent opportunities

The market is going to remain choppy for a while – at the very least up to the Fed’s meeting next week, and likely even after.

Lots of players are waiting on the sidelines for things to settle down a bit more.

Yet, the longer-term health of this bull market still looks solid.

These two factors combined often lead to consistent opportunities.

You just need to know how to spot the best of them.

Your best bet? Looking for the tell-tale footprints of the institutional money.

They try to hide them to prevent retail traders like us from using their money for our profit.

But after years in the heart of Wall Street, I know exactly how to uncover these Stealth Trades.

I shot a presentation a while ago that tells you everything you need to know to spot these trades.

It’s a little dated, but still 100% relevant.

So click here to watch it now…

And turn this short-term volatility to your advantage.

Ross Givens
Editor, Stock Surge Daily

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Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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