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Technology Stocks : Semi Equipment Analysis
SOXX 297.50-2.6%Nov 6 4:00 PM EST
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From: Return to Sender2/11/2023 10:00:27 PM
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bull_dozer

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We hope your weekend is off to a good start!

For all the fanfare and billions of dollars that have been plowed into AI and Chat GPT tools, what good is it if they can’t even tell us if this week’s pullback was a sign that the rally is over? Clearly it's not ready for primetime!



All kidding aside, given the strong rally to start the year, the market was due for a cool-off period, and we got that this week. As shown below, however, the S&P 500 remains above its 50 and 200-day moving average, and we’ve started to see shorter-term moving averages cross above longer-term ones which is typically a positive technical trend.

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