Keep An Eye On Semiconductor Weakness
Declan Fallon | Jul 25, 2014 06:44AM ET
Other than a slight uptick in volume for the S&P 500, it was a relatively quiet day. The one index which hinted at a change was the semiconductor index. It had been trading in a sideways range which had drifted outside of its narrow, rising channel, but yesterday's close positioned it as a break of support. The 50-day MA is nearby to provide support, but with technical weakness expanding there is a strong possibility for a larger move down.
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