Watching The SOX
A proxy to watch intraday is the Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating). This
sector will often lead the overall indices, or hold them back from a significant
move higher.
12:58:59
The Semiconductor Index ($SOX.X)
is consolidating near its intraday lows. This sector often leads the Nasdaq,
and yesterday broke through major support on its weekly chart.
The index makes a brief blip higher prior to moving lower.
Without the $SOX.X, the Nasdaq cannot likely make a significant move to the
upside. Keep this in mind when looking at market dynamics intraday.
Have a great weekend!