Tag: iShares PHLX Semiconductor ETF

Look to Reduce Exposure into Overbought Strength

the fact that market is overbought as S&P poked its head into the level that had been successful in repelling price action in the past does not favor a sustain breakout. The overall technical backdrop however, remains bullish so we’d look to reduce exposure into overbought strength, which might take the S&P closer to 3030 before a significant pullback unfolds

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