Thursday, September 12, 2019 2:48:20 PM
Shares of the semiconductor ETF $SMH inched towards double top on the daily chart. This is a classic resistance point on any chart. Expect a pull back in the semi’s in the near-term once double top is tagged/pierced. Markets continue to hope for a trade deal and are factoring in one in now. The market is also expecting no US recession and an extremely accommodative Federal Reserve. With hopes high in all regards, expect the rug to get pulled next week into options expiration.
Gareth Soloway
InTheMoneyStocks
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