Is This The Hottest Industry In The Market?
The market is in flux. With assistance, in its various forms, coming in to save the banking industry from what seemed like utter collapse, it appears the market has been given to continue it’s march higher. Until it decides to slip into the other direction that is.
The markets are seemingly discounting the possibility that the Fed will have the nerve to continue to raise rates. A stance that could prove to be on shaky ground. If the Fed truly wishes to tamp down inflation, it’s hard line against it will need to continue.
However, whatever direction the market decides to trade, is the direction we will trade in. Remember, the trend is your friend. Now, with that in mind let’s take a look at the sector we have on watch today.
iShares Semiconductor ETF (SOXX)
One industry that has quietly built a fair amount of momentum amid the chaos in the market has been semiconductors. With the shortage that has been going on for the better part of the last two years or so, this has been the perfect catalyst for this industry’s demand to soar.
Led by names like Nvidia, which is up over 54% in the last three months, this sector has rocketed higher. If the strength in the overall market remains, expect this ETF to continue to command the spotlight and set traders up for a bullish play.
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I look forward to trading with you, but until then, as always…