The multi-year love affair with semis has cooled off over the last month as money floods into cryptocurrencies and, yes, clothing retailers.  Super odd, but it’s not my job to explain all the trends, but to ride them out as much as possible.

Friday opened up with strong buying in semiconductor stocks like AMAT, OLED, and ENTG. However, weakness took over and the bulls retreated again.  Is it time to step back in?  The charts say not quite yet.  It seems likely that semis will retest recent lows and, if so, THEN I’ll be there to scoop ’em up.  BTFD, right?  But, if recent lows are taken out, the bottom may not be in, so you need to tread lightly.

A few I’m watching:

AMAT: Finished near low of the day Friday, so SMA100 is back in play.

AMAT Daily

AXTI: I like those long shadows on the daily candles.  I’m watching for strength and hold above SMA100

AXTI Daily

NVDA: Failed to break EMA8 on Friday.  That’s a big deal. More importantly is SMA50. I expect buyers to flow back in on any trip back up over SMA50.

NVDA Daily