Global stocks find short-term support and semiconductor sector declines approximately 30%
- 1Global stocks appear to have found short-term support levels, with 50-day moving average spreads by country rising from oversold levels.
- 2The semiconductor sector is holding at key support levels after recording a decline of approximately 30% since its June peak.
- 3Jim Knarr points out that housing indices, Caterpillar stock, and the technology sector are showing signs of major peaks similar to 2000, 2008, and 2022.
So what's the key point?
Global stock markets have found a point where the decline has stopped and they are holding steady. The semiconductor sector has fallen about 30 percent from its peak and is staying at an important support level.
Source The Weekly ChartStorm · View original ↗
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