Cycle Trading: Off to the Races
|Back in June a we looked at the Semi Conductors
We discussed how the Semi's were poised to begin the next leg up in their bull market.
This week the Semi's are breaking out to new highs.
The big picture is that the Semi's had close to a 20 year consolidation. They broke above the multi year consolidation in 2017 and then crawled along that resistance level for 2 years. They have now broken out to new highs to begin the next leg up in its bull market.
This is very similar to what the Nasdaq went through.
The Nasdaq had a multi year consolidation. Once it broke above it crawled along its resistance level for 2 years before breaking higher and then it was off to the Races
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