SOX Index Disconnect
The SOX Semiconductor Index is touching new highs today, while industry experts continue to point to an actual glut of semiconductor chips. Samsung missed earnings yesterday citing poor chip pricing and slowing demand. There is a true disconnect here somewhere. Since the SOX is also touching an extrapolated Fibonacci band, we’d expect market price enthusiasm for the SOX is the one misplaced.
Published by: Barclay Leib, Senior Advisor, Cooper Family Office. April 5th, 2019
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