Jul. 6 at 10:09 PM
Former market leaders may continue struggling as long as
$SMH keeps failing at key moving averages.
That doesn’t mean there are no opportunities. It just means this is a market where selectivity matters more than chasing the biggest names after a pullback.
Trying to catch the bottom in broken semi leaders can tie up capital while waiting for a trend change.
I’m watching for strength outside semis:
$DELL is one name on the radar, but confirmation matters.
The setup I’d like to see:
$IGV reclaim its 200-day moving average while
$SMH continues to build a base.
If software can take leadership while semis reset, then a later semiconductor breakout could create a much healthier market advance.
For now, patience is part of the strategy. Watching leaders emerge is often more valuable than forcing trades.
I’m focusing on quality setups with improving momentum, not just chasing yesterday’s winners.
