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Chart of the Day: Are Chips Losing Their Edge to Software Stocks?
David Russell
September 11, 2023

Semiconductor stocks have surged this year, thanks in large part to Nvidia. But they could be losing relative strength to software makers within the technology sector.

Today’s main chart focuses on the VanEck Semiconductor ETF (SMH), which closely tracks the Philadelphia Semiconductor Index. It recently slipped below the 50-day simple moving average, which may …

For more, please click here to view the related idea and chart analysis on TradingView.

VanEck Semiconductor ETF (SMH), daily chart, with selected patterns and indicators, courtesy of TradingView.
Tags: SMH

About the author

David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.