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Market Pulse | Stocks | Technical Analysis | Technology
This Key Part of the Technology Sector Could Be Flashing Warning Signs: Chart of the Day
David Russell
July 27, 2021

Semiconductors have been a key pillar of the S&P 500’s advance since 2016, and now they may be flashing a warning signal for the overall market.

This chart of the Philadelphia Semiconductor Index shows how gains have been slowing all year. Prices have squeezed into an increasingly narrow range, with the 50-day simple moving average recently dipping within about …

For more, please click here to view the related idea and chart analysis on TradingView.

Philadelphia Semiconductor Index, daily chart with selected patterns, courtesy of TradingView.

Tags: SMH | SOXX

About the author

David Russell
David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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