Nasdaq 100, Semiconductors Nearing Yet Another Breakout (QQQ)

Since the lows in 2009, the NDX 100 and Semiconductors (SMH) has been much stronger than the S&P 500 (Upside Leaders).

The NDX 100 (left chart) and Semiconductors (right chart) are very near 2018 highs, which happen to be all-time highs as well.

If both would break out at each (1), they would send a bullish message to tech and the broad markets as well.

Keep a close eye on both, as breakouts would send a quality bullish message from leadership.

The Invesco QQQ (QQQ) rose $0.20 (+0.11%) in premarket trading Wednesday. Year-to-date, QQQ has gained 13.07%, versus a 4.94% rise in the benchmark S&P 500 index during the same period.

QQQ currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 37 ETFs in the Large Cap Growth ETFs category.

This article is brought to you courtesy of Kimble Charting Solutions.

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