POPA ReconSemiconductor plummets, now hitting rock bottom source
Semiconductor plummets, now hitting rock bottom source 1. In July, the S&P 500 was only -0.1% and +9.4% compared to the beginning of the year. The equally weighted index recorded +0.9%, while the Nasdaq recorded -6.6%. Rather than a collapse of the entire market, it is closer to a cyclical sale in which leadership shifts from AI and big tech to non-tech stocks. 2. Semiconductors have been adjusted by more than 20% from their high point, and the proportion of SMH constituents that are above the 50-day moving average line has fallen to 0%. Conditions for short-term oversold and technical rebou…
The excerpt is quoted from a public Telegram channel, which owns its text.